First National Bank Of Arizona Provides SBA Loan to Buy Cold Stone Creamery Franchise

Need a loan to buy a Cold Stone Creamery franchise? First National Bank Of Arizona 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 overly burdensome. In 2004, First National Bank Of Arizona issued an SBA franchise loan to an entrepreneur in Weston, Florida. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY #704
WESTON, FL 33331

SBA Loan Lender

FIRST NATIONAL BANK OF ARIZONA
17600 N PERIMETER DR
SCOTTSDALE, AZ 85255

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/29/2004

Loan Approval Gross Amount

$227,600

Loan Approval from the SBA

Of the total $227,600 loan amount, the SBA guaranteed $170,700.

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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

Business Incubators

Banks in Scottsdale, Arizona

SBA Arizona Lenders