Loan to Buy Cold Stone Creamery Franchise Issued By Stearns Bank

Need money to purchase a Cold Stone Creamery franchise? Stearns 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, Stearns Bank issued an SBA franchise loan to an entrepreneur in Edgewater, 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
EDGEWATER, MD 21037

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722211 - Limited-Service Restaurants

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$243,700

Loan Approval from the SBA

Of the total $243,700 loan amount, the SBA guaranteed $121,850.

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 no employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Edgewater or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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