Auburn, NY Entrepreneur Gets SBA Loan to Buy Dunkin Donuts Franchise
Need money to purchase a Dunkin Donuts franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Dunkin Donuts franchise may simply require a phone call to a local SBA banker. In 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Auburn, New York. Because Dunkin Donuts was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.
SBA Loan Borrower
DUNKIN DONUTS - AUBURN
AUBURN, NY 13021
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
311811 - Retail Bakeries
Loan Approval Date
6/14/2002
Loan Approval Gross Amount
$1,000,000
Loan Approval from the SBA
Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Dunkin Donuts franchise. At the time of the loan, the company
had 21 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 20 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Cit Small Business Lending Corp so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Dunkin' Donuts
Getting a Small Business Loan
Banks in Livingston, New Jersey
New Jersey SBA 7A Banks