California Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

Borrowing money to purchase a Cold Stone Creamery franchise? Bank Of The Sierra has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Tulare, California needed money to invest in a Cold Stone Creamery franchise back in 2003. Bank Of The Sierra issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

BENEVEDES INC
TULARE, CA 93274

SBA Loan Lender

BANK OF THE SIERRA
86 N MAIN ST
PORTERVILLE, CA 93257

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

2/6/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cold Stone Creamery franchise. At the time of the loan, the company had 35 employees. This SBA loan request indicated that the loan would help generate 55 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Cold Stone Creamery, Inc.

Alternative Financing

Small Business Banks in Porterville, California

SBA Participating Banks in California