Minneapolis, MN Entrepreneur Gets SBA Loan to Buy Dunn Bros Coffee Franchise

Need a loan to buy a Dunn Bros Coffee franchise? Park Midway Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Dunn Bros Coffee franchise? If so, here's a 2003 SBA franchise loan that you should know about. Park Midway Bank was the lender and the entrepreneur was based in Minneapolis, Minnesota.

SBA Loan Borrower

DUNN BROS COFFEE
MINNEAPOLIS, MN 55408

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$261,900

Loan Approval from the SBA

Of the total $261,900 loan amount, the SBA guaranteed $196,425.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Dunn Bros Coffee franchise. At the time of the loan, the company had 13 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 13 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Dunn Brothers Coffee Shops

Small Business Loan

Banks in Saint Paul, Minnesota

Getting an SBA Loan in Minnesota