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April 20, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Scottsdale, Business Loans > First National Bank Of Arizona Scottsdale Business Loans > Cold Stone Creamery Inc Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Woodstock, GA Entrepreneur Gets SBA Loan to Buy Cold Stone Creamery FranchiseNeed a loan to purchase a Cold Stone Creamery franchise? First National Bank Of Arizona has a history of making these loans and they are guaranteed by the SBA. If you live near Woodstock, Georgia and are interested in buying a Cold Stone Creamery franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First National Bank Of Arizona. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower COLD STONE CREAMERY INC SBA Loan Lender FIRST NATIONAL BANK OF ARIZONA 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 8/24/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 7A Banks in Scottsdale, Arizona
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