Newark, DE Entrepreneur Gets SBA Loan to Buy Dream Dinners Franchise

Borrowing money to purchase a Dream Dinners franchise? Wilmington Trust Company has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Dream Dinners franchise? If so, here's a 2006 SBA franchise loan that you should know about. Wilmington Trust Company was the lender and the entrepreneur was based in Newark, Delaware.

SBA Loan Borrower

DREAM DINNERS
NEWARK, DE 19363

SBA Loan Lender

WILMINGTON TRUST COMPANY
4899 LIMESTONE RD
WILMINGTON, DE 19808

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424410 - General Line Grocery Merchant Wholesalers

Loan Approval Date

8/8/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Dream Dinners

Realistic Debt Financing Options

Where to Get an SBA Loan in Wilmington, Delaware

Getting an SBA Loan in Delaware