Lakewood, CA Entrepreneur Gets SBA Loan to Buy It's A Grind Coffee Franchise

Need a loan to buy an It's A Grind Coffee franchise? Internatl City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Lakewood, California and are interested in buying an It's A Grind Coffee franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Internatl City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ITS A GRIND COFFEE HOUSE
LAKEWOOD, CA 90713

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/25/2006

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an It's A Grind Coffee franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

It's A Grind Coffee

It's a Grind Coffee Shop

How Equity Dilution Works

SBA Banks in Long Beach, California

SBA Lenders in California