Ellianos Coffee Partners with First Federal Bank for $25 Million in Funding

Ellianos Coffee, the Southeast-based drive-thru coffee franchise, announced a new partnership with First Federal Bank, securing $25 million in funding for franchisees. The new partnership will allow franchisees to streamline the loan process to confidently and quickly obtain their business loans, allowing their stores to become operational as soon as possible.

Ellianos Coffee is experiencing accelerated growth across the Southeast, with twenty-two stores currently open and over sixty stores in development. The new partnership with First Federal Bank comes at a pivotal time in franchise history and will result in even faster growth and satisfied franchisees.

First Federal Bank is a community bank founded in 1962 in Lake City, Florida, the same hometown as the coffee franchise. First Federal Bank has grown from four employees in 1962 to more than 800 employees in 2022 and offers a full range of business financial solutions, services and loans. With SBA and USDA lending offices throughout Florida and in several states, First Federal Bank is uniquely positioned to work with new and existing Ellianos franchisees.

Offering two different types of loans to franchisees, First Federal Bank’s trained loan officers will carefully assess the needs of each Ellianos franchisee to provide them with the best loan option that suits their business goals.

The first loan option First Federal Bank offers franchisees is the Small Business Administration (SBA) loan. This option includes terms of up to 15 years, requires less personal cash, and requires a minimum 10% down payment at closing, among other conditions.

The second loan option available to Ellianos franchisees through First Federal is a traditional business loan, which includes terms of up to 10 years. The franchisee needs higher personal liquidity, a higher minimum credit score, and a larger down payment at closing, in addition to a few other requirements. Compared to SBA financing, this option has lower closing costs.

In a recent interview, Rob Hughes, President of the CGGL Division of First Federal Bank, commented on the partnership saying, “Lending to people who are building small businesses helps them achieve the American dream. He went on to say, “The ability to offer flexible programs ensures that we can meet the needs of all Ellianos franchisees, whether they are in start-up mode or expanding their existing businesses.”

First Federal Bank stands by its core values ​​of being community-driven, focused on customer service, financially stable, and trustworthy. These values ​​support its mission and vision, shape its culture and lay the foundation for its future.

Ellianos Coffee President Scott Stewart spoke about the partnership saying, “We couldn’t be happier to be working with First Federal Bank. Each member of their team is truly committed to their core values ​​and ready to help our franchisees accomplish their mission. business goals. We look forward to seeing our new and existing franchisees succeed through this key relationship. »

The coffee industry has proven to be recession-proof throughout the COVID-19 pandemic and is expected to grow at 4.32% annually. Due to its distinctive dual-sided drive-thru model, Ellianos Coffee recorded record sales throughout 2020 amid the pandemic, fully poised to adapt to the unique conditions. Since the pandemic, demand for drive-thru has, in part, catapulted Ellianos into an unprecedented phase of growth. The First Federal Bank loan program will allow franchisees to take full advantage of the current climate of the booming coffee industry as quickly as possible and turn their stores from a dream into a reality.