Home Savings & Loan Co - Youn Provides SBA Loan to Buy Dairy Queen Franchise

Need money to buy a Dairy Queen franchise? Home Savings & Loan Co - Youn has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dairy Queen franchise may simply require a phone call to a local SBA banker. In 2007, Home Savings & Loan Co - Youn issued an SBA franchise loan to an entrepreneur in Hubbard, Ohio. Because Dairy Queen was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

DAIRY QUEEN
HUBBARD, OH 44425

SBA Loan Lender

HOME SAVINGS & LOAN CO - YOUN
275 FEDERAL PLAZA WEST
YOUNGSTOWN, OH 44503

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

3/9/2007

Loan Approval Gross Amount

$332,000

Loan Approval from the SBA

Of the total $332,000 loan amount, the SBA guaranteed $249,000.

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 12 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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 Home Savings & Loan Co - Youn 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.

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