First American Bank Provides SBA Loan to Buy Cold Stone Creamery Franchise

Need a loan to purchase a Cold Stone Creamery franchise? First American Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cold Stone Creamery franchise is doable. In 2004, First American Bank issued an SBA franchise loan to an entrepreneur in Ames, Iowa. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY
AMES, IA 50010

SBA Loan Lender

FIRST AMERICAN BANK
1530 S DUFF AVE
AMES, IA 50010

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/17/2004

Loan Approval Gross Amount

$299,000

Loan Approval from the SBA

Of the total $299,000 loan amount, the SBA guaranteed $224,250.

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 20 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First American Bank and they will explain how you can get an SBA loan for your company.

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.

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Ames, Iowa

Getting an SBA Loan in Iowa