South Cnty Bank Provides SBA Loan to Buy It's A Grind Coffee Franchise

Borrowing money to buy an It's A Grind Coffee franchise? South Cnty Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Corona, California and are interested in buying an It's A Grind Coffee franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by South Cnty Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

IT'S A GRIND
CORONA, CA 92701

SBA Loan Lender

SOUTH CNTY BANK
22342 AVENIDA EMPRESA, STE A1
RANCHO SANTA MARGARIT, CA 92688

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/13/2005

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an It's A Grind Coffee franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the funding would help generate 15 new jobs.

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

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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