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May 9, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Wyomissing, Business Loans > Sovereign Bank Wyomissing Business Loans > Dunkin Donuts Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Sovereign Bank Provides SBA Loan to Buy Dunkin Donuts FranchiseBorrowing money to purchase a Dunkin Donuts franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Dunkin Donuts franchise requires some effort but others before you have been successful. In 2002, Sovereign Bank issued an SBA franchise loan to an entrepreneur in Willow Grove, Pennsylvania. Because Dunkin Donuts was registered with the SBA's registry of franchises, this Pennsylvania small business loan was issued on an expedited basis. SBA Loan Borrower DUNKIN DONUTS SBA Loan Lender SOVEREIGN BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/6/2002 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 10 new jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sovereign Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Banks for Small Business in Wyomissing, Pennsylvania
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