Chesterton, IN Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Need a loan to buy a Dairy Queen franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Dairy Queen franchise? If so, here's a 2007 SBA franchise loan that you should know about. Wells Fargo Bank was the lender and the entrepreneur was based in Chesterton, Indiana.

SBA Loan Borrower

S.M. PENDLETON. INC.
Chesterton, IN 46304

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

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

12/27/2007

Loan Approval Gross Amount

$1,838,500

Loan Approval from the SBA

Of the total $1,838,500 loan amount, the SBA guaranteed $1,378,875.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dairy Queen

Find Start-Up Capital

Small Business Banks in Sioux Falls, South Dakota

South Dakota SBA Banks