Mississippi Entrepreneur Secures Financing to Buy Coffee Beanery retail Coffee Franchise

Need a loan to purchase a Coffee Beanery retail Coffee franchise? Community Bank, Ellisville has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hattiesburg, Mississippi needed money to invest in a Coffee Beanery retail Coffee franchise back in 2005. Community Bank, Ellisville issued an SBA franchise loan. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

THE COFFEE BEANERY
HATTIESBURG, MS 39402

SBA Loan Lender

COMMUNITY BANK, ELLISVILLE
300 W JESSAMINE ST
ELLISVILLE, MS 39437

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

811111 - General Automotive Repair

Loan Approval Date

6/9/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Coffee Beanery retail Coffee franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, anyone can do it... so why not you?

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:

SBIR Funding

SBA 7A Lenders in Ellisville, Mississippi

SBA Mississippi Lenders