Allendale, MI Entrepreneur Gets SBA Loan to Buy Beaner's Gourmet Coffee Franchise

Borrowing money to buy a Beaner's Gourmet Coffee franchise? Macatawa Bank has a history of making these loans and they are guaranteed by the SBA.

Beaner's Gourmet Coffee franchise loans are available to Allendale, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Macatawa Bank, based in Holland, Michigan, issued an SBA franchise loan for a Beaner's Gourmet Coffee franchise in 2007. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

BEANER'S GOURMET COFFEE
ALLENDALE, MI 49401

SBA Loan Lender

MACATAWA BANK
10753 MACATAWA DR
HOLLAND, MI 49424

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/8/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Beaner's Gourmet Coffee franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help create 3 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Macatawa Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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