Loan to Buy Gloria Jean's Coffee Bean Franchise Issued By American Chartered Bank

Borrowing money to buy a Gloria Jean's Coffee Bean franchise? American Chartered Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Gloria Jean's Coffee Bean franchise shouldn't be too tough. In 2000, American Chartered Bank issued an SBA franchise loan to an entrepreneur in Arlington Heights, Illinois. Because Gloria Jean's Coffee Bean was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

GLORIA JEAN'S COFFEES
ARLINGTON HEIGHTS, IL 60004

SBA Loan Lender

AMERICAN CHARTERED BANK
1199 E HIGGINS RD
SCHAUMBURG, IL 60173

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

5/24/2000

Loan Approval Gross Amount

$154,200

Loan Approval from the SBA

Of the total $154,200 loan amount, the SBA guaranteed $115,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Gloria Jean's Coffee Bean franchise. At the time of the loan, the company had 52 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Chartered Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Gloria Jean's Coffees

Business Line of Credit

Where to Get an SBA Loan in Schaumburg, Illinois

SBA Participating Banks in Illinois