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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minnetonka, Business Loans > The Business Bank Minnetonka Business Loans > Dairy Queen Loan | ||||
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Minneapolis, Minnesota Bank Loan
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Minneapolis, MN Entrepreneur Gets SBA Loan to Buy Dairy Queen FranchiseNeed money to invest in a Dairy Queen franchise? The Business Bank has a history of making these loans and they are guaranteed by the SBA. Dairy Queen franchise loans are available to Minneapolis, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The Business Bank, based in Minnetonka, Minnesota, issued an SBA franchise loan for a Dairy Queen franchise in 2002. We've got all the details on this Minnesota small business loan. SBA Loan Borrower DAIRY QUEEN SBA Loan Lender THE BUSINESS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/10/2002 Loan Approval Gross Amount $136,000 Loan Approval from the SBA Of the total $136,000 loan amount, the SBA guaranteed $115,600. 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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 The Business 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: Dealing With Venture Capitalists Best Banks for Small Business in Minnetonka, Minnesota
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