Kansas Entrepreneur Secures Financing to Buy Lamar's Donuts Franchise

Borrowing money to purchase a Lamar's Donuts franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Wichita, Kansas needed money to invest in a Lamar's Donuts franchise back in 2001. Bank Of America issued an SBA franchise loan. Here are the details on this Kansas small business loan.

SBA Loan Borrower

LAMAR'S DONUTS
WICHITA, KS 67205

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

5/18/2001

Loan Approval Gross Amount

$226,600

Loan Approval from the SBA

Of the total $226,600 loan amount, the SBA guaranteed $169,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Lamar's Donuts franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 24 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

LaMar's Donuts

How to Raise Money

SBA Banks in Charlotte, North Carolina

Browse All Business Loan Sources for North Carolina