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May 17, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Devon, Business Loans > Commerce Bank Devon Business Loans > Dunkin Donuts And Dunkin Donut Loan | ||||
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Commerce Bank SBA Franchise Loans
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Phillipsburg, NJ Entrepreneur Gets SBA Loan to Buy Dunkin Donuts FranchiseNeed a loan to invest in a Dunkin Donuts franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Phillipsburg, New Jersey and are interested in buying a Dunkin Donuts franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Commerce 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 AND DUNKIN DONUT SBA Loan Lender COMMERCE BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 8/1/2002 Loan Approval Gross Amount $1,175,000 Loan Approval from the SBA Of the total $1,175,000 loan amount, the SBA guaranteed $881,250. 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 35 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 45 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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 Commerce Bank 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: Role of Business Plan When Raising Money Where to Get an SBA Loan in Devon, Pennsylvania Where to Get an SBA Loan Pennsylvania
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