Dickinson, ND Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Borrowing money to purchase a Dairy Queen franchise? Dakota Commun Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dairy Queen franchise requires some effort but others before you have been successful. In 2001, Dakota Commun Bank issued an SBA franchise loan to an entrepreneur in Dickinson, North Dakota. Because Dairy Queen was registered with the SBA's registry of franchises, this North Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

JH & R, INC.
DICKINSON, ND 58601

SBA Loan Lender

DAKOTA COMMUN BANK
353 19TH ST WEST
DICKINSON, ND 58601

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/7/2001

Loan Approval Gross Amount

$28,000

Loan Approval from the SBA

Of the total $28,000 loan amount, the SBA guaranteed $23,800.

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 16 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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SBA Banks in Dickinson, North Dakota

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