Matt was always helpful, honest, available, and clear on timelines throughout the SBA process. The world of finance can be arduous, but that’s typical, and closing was easier than I expected. I 100% would, have, and will recommend Matt Putnam and Dogwood State Bank Small Business Lending to other small business owners. Matt, Brenda, Kimberly, Anthony – everyone I worked with at Dogwood was so helpful and accommodating.
Client Profile
The Barker Lounge is a dog daycare, boarding, and grooming facility located in Livingston, New Jersey with 15,000+ square feet of indoor and outdoor play area. The Barker Lounge differs from its competitors with its emphasis on not only “occupying” dogs in their daycare and boarding care, but also providing an enriching experience mentally, physically, and socially with monitored “All Day Group Play” to keep dogs safe and happy. The Barker Lounge Livingston joins two other New Jersey locations and is the eighth Barker Lounge location.
Loan Profile
As a former Attorney who represented banks, Owner and Partner, Robert Gonnello had experience from both a financial aspect, as well as an understanding of their interactions with small businesses. This experience helped lead Robert to the dream of owning his own business. When the opportunity arose to start a Barker Lounge franchise, Robert knew the business endeavor would be a great fit for him and his brother/business partner. Having boarded their dog at the Barker Lounge before, they knew it was a business they believed in and were passionate about. After researching his options, Robert determined that an SBA loan was the way to go. The Barker Franchise put him in touch with our experienced Business Lending Specialist, Matt Putnam to begin the process of acquiring the funds necessary to start his franchise. The SBA 7(a) loan for a franchise start-up provided Robert with longer payment terms, lower down payments, fair interest rates, and a flexible loan structure compared to a conventional loan option. The SBA 7(a) loan program at Dogwood State Bank offers loan amounts up to $5MM, flexible collateral requirements, and can include goodwill financing, franchise fees, and closing costs, making it a viable loan solution for a range of small businesses.
If you are interested in an SBA loan for your franchise start-up or other business endeavors, visit our website to learn more about our SBA Loan Program. Learn more about Business Lending Specialist, Matt Putnam here and don’t hesitate to reach out with any questions you may have about the SBA loan process.
