Cit Small Business Lending Corp Provides SBA Loan to Buy Dunkin Donuts Franchise

Need a loan to invest in a Dunkin Donuts franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

If you live near Bronx, New York and are interested in buying a Dunkin Donuts franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Cit Small Business Lending Corp. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DUNKIN DONUTS & BASKIN ROBBINS
BRONX, NY 10463

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

8/27/2004

Loan Approval Gross Amount

$709,000

Loan Approval from the SBA

Of the total $709,000 loan amount, the SBA guaranteed $531,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dunkin Donuts franchise. At the time of the loan, the company had 25 employees. The loan application indicated that the loan would help retain 25 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

Related Links:

Dunkin' Donuts

The Friends and Family Network

Find an SBA Lender in Livingston, New Jersey

SBA New Jersey Banks