Loan to Buy Dunkin Donuts Franchise Issued By First Peoples Bank

Borrowing money to buy a Dunkin Donuts franchise? First Peoples Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dunkin Donuts franchise may simply require a phone call to a local SBA banker. In 2004, First Peoples Bank issued an SBA franchise loan to an entrepreneur in West Palm Beach, Florida. Because Dunkin Donuts was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

DUNKIN DONUTS
WEST PALM BEACH, FL 33414

SBA Loan Lender

FIRST PEOPLES BANK
1301 SE PORT ST LUCIE BLVD
PORT SAINT LUCIE, FL 34952

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

445299 - Specialty Food Stores

Loan Approval Date

11/24/2004

Loan Approval Gross Amount

$480,600

Loan Approval from the SBA

Of the total $480,600 loan amount, the SBA guaranteed $360,450.

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 2 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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

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