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November 21, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > North Plainfield, Business Loans > Valley National Bank North Plainfield Business Loans > Cold Stone Creamery Loan | ||||
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Business Loans for Warrington Small Business Owners
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Valley National Bank Provides SBA Loan to Buy Cold Stone Creamery FranchiseBorrowing money to purchase a Cold Stone Creamery franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Cold Stone Creamery franchise shouldn't be too tough. In 2004, Valley National Bank issued an SBA franchise loan to an entrepreneur in Warrington, Pennsylvania. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis. SBA Loan Borrower COLD STONE CREAMERY SBA Loan Lender VALLEY NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 6/7/2004 Loan Approval Gross Amount $270,000 Loan Approval from the SBA Of the total $270,000 loan amount, the SBA guaranteed $202,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cold Stone Creamery franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 16 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Valley National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Friends and Family SBA Participating Banks in North Plainfield, New Jersey
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