Both based in Lake City, the company and First Federal Bank say $25 million is available.
Ellianos Coffee announced May 20 that it secured $25 million in funding for franchisees through a partnership with First Federal Bank.
Lake City-based Ellianos Coffee said the financing will allow franchisees to streamline lending “to confidently and quickly attain their business loans, allowing their stores to become operational as soon as possible.”
Ellianos Coffee said it is it has 22 stores open in the Southeast and more than 60 in development.
The release said that Lake City-based First Federal Bank can offer franchisees a Small Business Administration loan or a traditional commercial loan.
According to the news release, the coffee industry proved to be recession-proof throughout the pandemic and is expected to grow annually by 4.32%.
The release said Ellianos experienced record sales in 2020 and is in “an unprecedented growth stage.”
Scott and Pam Stewart founded Ellianos in 2002 to serve “Italian Quality at America’s Pace.”
Its website is ellianos.com.
Ellianos is built as a double-sided drive-thru-only model.
The 700-square-foot drive-thrus offer specialty espresso drinks, smoothies, latte freezers and more, as well as food items such as breakfast grit bowls, breakfast sandwiches, bagels, cookies, brownies and chicken salad croissants.
Ellianos Coffee is on its way to open at least nine drive-thru shops in the Jacksonville area, and 12 locations have been identified.
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