Loan to Buy Daylight Donut Shop Franchise Issued By First Cit. Bank & Trust Inc

Need money to buy a Daylight Donut Shop franchise? First Cit. Bank & Trust Inc has a history of making these loans and they are guaranteed by the SBA.

Daylight Donut Shop franchise loans are available to Aiken, South Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Cit. Bank & Trust Inc, based in Columbia, South Carolina, issued an SBA franchise loan for a Daylight Donut Shop franchise in 2002. We've got all the details on this South Carolina small business loan.

SBA Loan Borrower

DAYLIGHT DONUTS
AIKEN, SC 29803

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1314 PARK ST
COLUMBIA, SC 29201

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$54,900

Loan Approval from the SBA

Of the total $54,900 loan amount, the SBA guaranteed $46,665.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Daylight Donut Shop franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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