Loan to Buy Dairy Queen Franchise Issued By American Federal Bank

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

Dairy Queen franchise loans are available to Fergus Falls, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Federal Bank, based in Fargo, North Dakota, issued an SBA franchise loan for a Dairy Queen franchise in 2007. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

DAIRY QUEEN
FERGUS FALLS, MN 56537

SBA Loan Lender

AMERICAN FEDERAL BANK
215 N FIFTH ST
FARGO, ND 58108

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/24/2007

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

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 21 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 21 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Federal Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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