Sioux Center, IA Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Need money to buy a Dairy Queen franchise? Community Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dairy Queen franchise shouldn't be too tough. In 2003, Community Bank issued an SBA franchise loan to an entrepreneur in Sioux Center, Iowa. Because Dairy Queen was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

DAIRY QUEEN OF SIOUX CENTER
SIOUX CENTER, IA 51250

SBA Loan Lender

COMMUNITY BANK
901 8TH ST SE
ORANGE CITY, IA 51041

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/9/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 15 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Sioux Center or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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