Loan to Buy Bear Creek Coffee Franchise Issued By 1st Source Bank

Need a loan to buy a Bear Creek Coffee franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA.

Bear Creek Coffee franchise loans are available to Decatur, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, 1st Source Bank, based in South Bend, Indiana, issued an SBA franchise loan for a Bear Creek Coffee franchise in 2007. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

SHANE&SUSIE LLC
DECATUR, IN 46733

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/17/2007

Loan Approval Gross Amount

$26,000

Loan Approval from the SBA

Of the total $26,000 loan amount, the SBA guaranteed $13,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bear Creek Coffee franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

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

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Bear Creek Coffee

Getting a Small Business Loan

SBA 7A Banks in South Bend, Indiana

Find an SBA Lender in Indiana