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May 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Dunkin Donuts & Baskin Robins Loan | ||||
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Requirements for Getting a Franchise Loan
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Ohio Entrepreneur Secures Financing to Buy Dunkin Donuts FranchiseNeed money to buy a Dunkin Donuts franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Miamisburg, Ohio and are interested in buying a Dunkin Donuts franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Fifth Third Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower DUNKIN DONUTS & BASKIN ROBINS SBA Loan Lender FIFTH THIRD BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 3/31/2004 Loan Approval Gross Amount $535,000 Loan Approval from the SBA Of the total $535,000 loan amount, the SBA guaranteed $401,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Dunkin Donuts franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: SBA 7A Lenders in Cincinnati, Ohio
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