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

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.

Dunkin Donuts franchise loans are available to Sanford, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cit Small Business Lending Corp, based in Livingston, New Jersey, issued an SBA franchise loan for a Dunkin Donuts franchise in 2004. We've got all the details on this Florida small business loan.

SBA Loan Borrower

DUNKIN DONUTS / BASKIN ROBBINS
SANFORD, FL 32773

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/22/2004

Loan Approval Gross Amount

$423,000

Loan Approval from the SBA

Of the total $423,000 loan amount, the SBA guaranteed $317,250.

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 20 employees. The loan application indicated that the loan would help generate 16 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Understanding Dilution

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