Borrow Money to Buy a Dairy Queen Franchise

Need a loan to purchase a Dairy Queen franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Minnetonka, Minnesota needed money to invest in a Dairy Queen franchise back in 2000. Stearns Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

GLEN LAKE DAIRY QUEEN
MINNETONKA, MN 55345

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

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.

SIC Code

5812 - Eating Places

Loan Approval Date

4/26/2000

Loan Approval Gross Amount

$351,500

Loan Approval from the SBA

Of the total $351,500 loan amount, the SBA guaranteed $263,625.

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. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $351,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

The Friends and Family Network

SBA Participating Banks in Saint Cloud, Minnesota

SBA Lenders in Minnesota