Comerica Bank Provides SBA Loan to Buy Cold Stone Creamery Franchise

Borrowing money to invest in a Cold Stone Creamery franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cold Stone Creamery franchise may simply require a phone call to a local SBA banker. In 2004, Comerica Bank issued an SBA franchise loan to an entrepreneur in Miami, Florida. Because Cold Stone Creamery was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

COLD STONE CREAMERY #1450
8448 SW 8TH ST
MIAMI, FL 33144

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a deep knowledge SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/16/2004

Loan Approval Gross Amount

$261,000

Loan Approval from the SBA

Of the total $261,000 loan amount, the SBA guaranteed $195,750.

More Information on This SBA Loan

The borrower, Cold Stone Creamery #1450, 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 12 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 5/1/2007.

Great, But How Can I Get an SBA Loan for My Business?

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan to Cold Stone Creamery #1450 shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Cold Stone Creamery, Inc.

Business Line of Credit

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SBA Lenders in Texas

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