Tennessee Entrepreneur Secures Financing to Buy Barnie's Coffee & Tea Company Franchise

Borrowing money to purchase a Barnie's Coffee & Tea Company franchise? Hana Small Business Lending Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Chattanooga, Tennessee needed money to invest in a Barnie's Coffee & Tea Company franchise back in 2007. Hana Small Business Lending Inc. issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

BARNIE'S COFFEE & TEA CO
CHATTANOOGA, TN 37421

SBA Loan Lender

HANA SMALL BUSINESS LENDING INC.
1000 WILSHIRE BLVD, SUITE 200
LOS ANGELES, CA 90017

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

8/14/2007

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Barnie's Coffee & Tea Company franchise. At the time of the loan, the company had 14 employees. The loan application indicated that the funding would help create 14 new jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hana Small Business Lending Inc. 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.

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