Borrow Money to Buy a Jumpin'Juice & Java Lc Franchise

Need a loan to invest in a Jumpin'Juice & Java Lc franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Olean, New York and are interested in buying a Jumpin'Juice & Java Lc franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RILEY'S JAVE, LLC
OLEAN, NY 14760

SBA Loan Lender

COMMUNITY BANK
201 N UNION ST
OLEAN, NY 14760

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2043 - Cereal Breakfast Foods

NAICS Code

311920 - Coffee and Tea Manufacturing

Loan Approval Date

12/2/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jumpin'Juice & Java Lc franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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Banks in Olean, New York

New York SBA 7A Lenders