Borrow Money to Buy a Cold Stone Creamery Franchise
Borrowing money to purchase a Cold Stone Creamery franchise? Pnc Bank, National Association 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 2006, Pnc Bank, National Association issued an SBA franchise loan to an entrepreneur in College Park, Maryland. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis.
SBA Loan Borrower
COLD STONE CREAMERY
COLLEGE PARK, MD 20740
SBA Loan Lender
PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
311520 - Ice Cream and Frozen Dessert Manufacturing
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $248,000 loan amount, the SBA guaranteed $186,000.
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 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pnc Bank, National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pnc Bank, National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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.
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