Lakewood, CA Entrepreneur Gets SBA Loan to Buy It's A Grind Coffee Franchise

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

If you live near Lakewood, 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 2006 by Internatl City 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 COFFEE HOUSE
LAKEWOOD, CA 90712

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/30/2006

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an It's A Grind Coffee franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Lakewood 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:

It's A Grind Coffee

It's a Grind Coffee Shop

Business Line of Credit

SBA Banks in Long Beach, California

SBA Lenders in California