Cherry Hill (township Of), NJ Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Need money to purchase a Dairy Queen franchise? Wachovia Sba Lending, Inc. has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Cherry Hill (township Of), New Jersey needed money to invest in a Dairy Queen franchise back in 2005. Wachovia Sba Lending, Inc. issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

DAIRY QUEEN/ORANGE JULIUS
CHERRY HILL (TOWNSHIP OF), NJ 08002

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/13/2005

Loan Approval Gross Amount

$264,500

Loan Approval from the SBA

Of the total $264,500 loan amount, the SBA guaranteed $198,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dairy Queen franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 12 new jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Sba Lending, Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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