Michigan Entrepreneur Secures Financing to Buy Beaner's Gourmet Coffee Franchise

Need money to invest in a Beaner's Gourmet Coffee franchise? Irwin Union Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Beaner's Gourmet Coffee franchise loans are available to Lansing, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Irwin Union Bank & Trust, based in Columbus, Indiana, issued an SBA franchise loan for a Beaner's Gourmet Coffee franchise in 2004. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

JP KEEGANS INC
LANSING, MI 48917

SBA Loan Lender

IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/2/2004

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $142,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Beaner's Gourmet Coffee franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 6 existing 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $190,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Biggby Coffee

Debt Financing

Best Banks in Columbus, Indiana

Browse All Business Loan Sources for Indiana