New York Entrepreneur Secures Financing to Buy Dunkin Donuts Franchise

Borrowing money to invest in a Dunkin Donuts franchise? Cit Small Business Lending Corp 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 2002, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Queens Village, New York. Because Dunkin Donuts was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

DUNKIN DONUTS
QUEENS VILLAGE, NY 11427

SBA Loan Lender

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

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

9/4/2002

Loan Approval Gross Amount

$869,000

Loan Approval from the SBA

Of the total $869,000 loan amount, the SBA guaranteed $651,750.

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 3 employees. This SBA loan request indicated that the loan would help generate 16 new jobs and retain 16 existing jobs.

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

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.

We can help you find the best banks for small businesses in Queens Village or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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