Springfield, IL Entrepreneur Gets SBA Loan to Buy Gloria Jean's Coffee Bean Franchise

Need a loan to buy a Gloria Jean's Coffee Bean franchise? Marine Bank, Springfield has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Springfield, Illinois needed money to invest in a Gloria Jean's Coffee Bean franchise back in 2000. Marine Bank, Springfield issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

GLORIA JEANS COFFEE BEAN
SPRINGFIELD, IL 62704

SBA Loan Lender

MARINE BANK, SPRINGFIELD
3050 W WABASH AVE
SPRINGFIELD, IL 62704

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5149 - Groceries and Related Products

Loan Approval Date

3/23/2000

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

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 5 employees. The loan application indicated that the loan would help create 5 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Marine Bank, Springfield so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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