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May 4, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Cold Stone Creamery Loan | ||||
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Raising Money in Sioux Falls, South Dakota With SBA Loans
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Sioux Falls, SD Entrepreneur Gets SBA Loan to Buy Cold Stone Creamery FranchiseNeed a loan to buy a Cold Stone Creamery franchise? Wells Fargo 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 overly burdensome. In 2005, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Sioux Falls, South Dakota. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis. SBA Loan Borrower COLD STONE CREAMERY SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 4/29/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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. The loan application indicated that the loan would help retain 35 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $40,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA Banks in San Jose, California Getting an SBA Loan in California
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