Borrow Money to Buy a Barista's Daily Grind Franchise

Borrowing money to purchase a Barista's Daily Grind franchise? Platte Valley St. Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Grand Island, Nebraska needed money to invest in a Barista's Daily Grind franchise back in 2006. Platte Valley St. Bank & Trust issued an SBA franchise loan. Here are the details on this Nebraska small business loan.

SBA Loan Borrower

BARISTA'S DAILY GRIND
GRAND ISLAND, NE 68803

SBA Loan Lender

PLATTE VALLEY ST. BANK & TRUST
810 ALLEN DR
GRAND ISLAND, NE 68803

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

8/7/2006

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Barista's Daily Grind franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Choosing VC Firms

SBA Approved Banks in Grand Island, Nebraska

Nebraska SBA 7A Lenders