Ohio Entrepreneur Secures Financing to Buy Dairy Queen Franchise

Borrowing money to invest in a Dairy Queen franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Louisville, Ohio needed money to invest in a Dairy Queen franchise back in 2004. Firstmerit Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

DAIRY QUEEN
LOUISVILLE, OH 44641

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

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

4/26/2004

Loan Approval Gross Amount

$161,500

Loan Approval from the SBA

Of the total $161,500 loan amount, the SBA guaranteed $121,125.

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 17 employees. The loan application indicated that the funding would help generate 17 new jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

Choosing VC Firms

Good Banks for Small Business in Akron, Ohio

Ohio SBA Banks