Smithfield, NC Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Borrowing money to purchase a Dairy Queen franchise? Four Oaks Bank & Trust Company has a history of making these loans and they are guaranteed by the SBA.

Dairy Queen franchise loans are available to Smithfield, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Four Oaks Bank & Trust Company, based in Smithfield, North Carolina, issued an SBA franchise loan for a Dairy Queen franchise in 2000. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

DAIRY QUEEN
SMITHFIELD, NC 27577

SBA Loan Lender

FOUR OAKS BANK & TRUST COMPANY
403 S BRIGHT LEAF BLVD
SMITHFIELD, NC 27577

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

5812 - Eating Places

Loan Approval Date

1/21/2000

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $146,250.

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 8 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

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