Arizona Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

Borrowing money to buy a Cold Stone Creamery franchise? 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 requires some effort but others before you have been successful. In 2004, National Bank Of Arizona issued an SBA franchise loan to an entrepreneur in Yuma, Arizona. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY #1155
YUMA, AZ 85364

SBA Loan Lender

NATIONAL BANK OF ARIZONA
6001 N 24TH ST
PHOENIX, AZ 85016

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722310 - Food Service Contractors

Loan Approval Date

3/31/2004

Loan Approval Gross Amount

$204,900

Loan Approval from the SBA

Of the total $204,900 loan amount, the SBA guaranteed $153,675.

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 20 employees. The loan application indicated that the loan would help generate 20 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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

Where to Get an SBA Loan in Phoenix, Arizona

Getting an SBA Loan in Arizona