First United Bank & Trust Provides SBA Loan to Buy Daily Grind Franchise

Need money to invest in a Daily Grind franchise? First United Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Cumberland, Maryland and are interested in buying a Daily Grind franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First United Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DAILY GRIND
CUMBERLAND, MD 21502

SBA Loan Lender

FIRST UNITED BANK & TRUST
1501 OLD TOWN RD
CUMBERLAND, MD 21502

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/14/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Daily Grind franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Cumberland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Daily Grind Coffee House and Café

Borrowing Money from Friends and Family

Banks in Cumberland, Maryland

Getting a Business Loan in Maryland