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November 23, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Milwaukee, Business Loans > Legacy Bank Milwaukee Business Loans > Grq Restaurants Enterprises Ll Loan | ||||
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Pennsylvania Small Business Funding for Franchises
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Legacy Bank Provides SBA Loan to Buy Dairy Queen FranchiseNeed money to purchase a Dairy Queen franchise? Legacy Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Harrisburg, Pennsylvania needed money to invest in a Dairy Queen franchise back in 2006. Legacy Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower GRQ RESTAURANTS ENTERPRISES LL SBA Loan Lender LEGACY BANK The lender provided this small business 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 6/23/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 28 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Legacy 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: Family and Friend Investors - Your First Financiers Best Banks in Milwaukee, Wisconsin
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