Ellianos Coffee has partnered with CAMPUS USA Credit Union to create $20 million in new franchisee funding for projects in Florida and southern Georgia and should streamline the lending process for Ellianos franchisees so they can attain business loans more quickly.
“We couldn’t be more thrilled to be working with CAMPUS USA,” said Ellianos Coffee President Scott Stewart in a press release. “Their team is truly committed to providing exemplary service to their members. We’re looking forward to seeing our new and existing franchisees succeed as a result of this key relationship.”
The partnership allows Ellianos to link CAMPUS to people who show interest in opening a franchise, according to David Barber, vice president of commercial lending at CAMPUS. He said having an existing relationship between Ellianos and a lender like CAMPUS eliminates uncertainty for those who have never been in the business world before.
“We’ve seen the success of their local stores, and we think that success is going to continue as they spread,” Barber said in a phone interview.
Ellianos Coffee was founded in Lake City in 2002 with the mission to provide “Italian quality at America’s pace” as a double-sided drive-thru specialty coffee shop. It currently has 30 shops open, and over 100 more in various stages of development, according to its website. While the Ellianos in Alachua is currently the only franchise in Alachua County, there are plans for locations in Gainesville and Newberry.
The new partnership is intended to clear the path for more franchises to begin, giving qualified borrowers a choice of variable and fixed-rate loan options with terms based on how much of their own money borrowers contribute to the franchise. Small Business Administration financing is also available.
Barber said the partnership is also good for CAMPUS which, as a credit union, takes an interest in community growth. As a not-for-profit cooperative, CAMPUS is owned by its members, who receive profits in the form of no- and low-fee financial services and best-of-market rates on deposits and loans.
The Franchise Business Review named Ellianos a Top Franchise in 2022, following its 2021 recognition as a Top Food Franchise. Entrepreneur Magazine also named Ellianos on its Top Food Franchise list in 2021.