Loan to Buy Gloria Jean's Coffee Bean Franchise Issued By Cit Small Business Lending Corp

Need money to invest in a Gloria Jean's Coffee Bean franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Gloria Jean's Coffee Bean franchise? If so, here's a 2003 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Newington, New Hampshire.

SBA Loan Borrower

FOX RUN BEANS, LLC
NEWINGTON, NH 03801

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

1/9/2003

Loan Approval Gross Amount

$990,000

Loan Approval from the SBA

Of the total $990,000 loan amount, the SBA guaranteed $742,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Gloria Jean's Coffee Bean franchise. At the time of the loan, the company had 34 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Gloria Jean's Coffees

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SBA 7A Banks in Livingston, New Jersey

New Jersey SBA 7A Lenders