Loan to Buy Dunkin Donuts Franchise Issued By Cit Small Business Lending Corp

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

Want to borrow money to buy a Dunkin Donuts franchise? If so, here's a 2005 SBA franchise loan that you should know about. Cit Small Business Lending Corp was the lender and the entrepreneur was based in Raleigh, North Carolina.

SBA Loan Borrower

CARY QUICK SERVE RESTAURANTS L
RALEIGH, NC 27604

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/5/2005

Loan Approval Gross Amount

$890,500

Loan Approval from the SBA

Of the total $890,500 loan amount, the SBA guaranteed $667,875.

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 78 employees. This SBA loan request indicated that the borrowed money would help generate 78 new jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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