Loan to Buy Dairy Queen Franchise Issued By Citizens First National Bank

Borrowing money to buy a Dairy Queen franchise? Citizens First National Bank has a history of making these loans and they are guaranteed by the SBA.

Dairy Queen franchise loans are available to Chillicothe, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens First National Bank, based in Princeton, Illinois, issued an SBA franchise loan for a Dairy Queen franchise in 2004. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

DAIRY QUEEN (CHILLICOTHE DAIRY
CHILLICOTHE, IL 61523

SBA Loan Lender

CITIZENS FIRST NATIONAL BANK
606 S MAIN ST
PRINCETON, IL 61356

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/27/2004

Loan Approval Gross Amount

$90,338

Loan Approval from the SBA

Of the total $90,338 loan amount, the SBA guaranteed $76,787.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Dairy Queen franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,338 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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