Loan to Buy Daylight Donut Shop Franchise Issued By Union Bank

Borrowing money to invest in a Daylight Donut Shop franchise? Union Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Daylight Donut Shop franchise requires some effort but others before you have been successful. In 2000, Union Bank issued an SBA franchise loan to an entrepreneur in Kingfisher, Oklahoma. Because Daylight Donut Shop was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

DAYLIGHT DONUTS
KINGFISHER, OK 73750

SBA Loan Lender

UNION BANK
4921 N MAY AVE
OKLAHOMA CITY, OK 73112

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

Loan Approval Date

1/31/2000

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $70,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Daylight Donut Shop franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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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