Loan to Buy Barnie's Coffee & Tea Company Franchise Issued By Wachovia Bank

Need a loan to invest in a Barnie's Coffee & Tea Company franchise? Wachovia Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Barnie's Coffee & Tea Company franchise shouldn't be overly burdensome. In 2001, Wachovia Bank issued an SBA franchise loan to an entrepreneur in Merritt Island, Florida. Because Barnie's Coffee & Tea Company was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

BARNIES COFFE & TEA COMPANY
MERRITT ISLAND, FL 32952

SBA Loan Lender

WACHOVIA BANK
100 N MAIN ST
WINSTON SALEM, NC 27101

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/27/2001

Loan Approval Gross Amount

$265,200

Loan Approval from the SBA

Of the total $265,200 loan amount, the SBA guaranteed $198,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Barnie's Coffee & Tea Company franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wachovia Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Incubators

Where to Get an SBA Loan in Winston Salem, North Carolina

SBA North Carolina Banks