Texas Entrepreneur Secures Financing to Buy Cold Stone Creamery Franchise

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

Want to borrow money to buy a Cold Stone Creamery franchise? If so, here's a 2004 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Irving, Texas.

SBA Loan Borrower

COLD STONE CREAMERY
IRVING, TX 75063

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$230,800

Loan Approval from the SBA

Of the total $230,800 loan amount, the SBA guaranteed $173,100.

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 2 employees. This SBA loan request indicated that the loan would help generate 14 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $230,800 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.

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