Stillwater, MN Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Need a loan to purchase a Dairy Queen franchise? Central 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 overly burdensome. In 2000, Central Bank issued an SBA franchise loan to an entrepreneur in Stillwater, Minnesota. Because Dairy Queen was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

DAIRY QUEEN
STILLWATER, MN 55082

SBA Loan Lender

CENTRAL BANK
2270 FRONTAGE RD
STILLWATER, MN 55082

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

9/19/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dairy Queen franchise. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Central Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

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Who Lends Money to Small Businesses in Stillwater, Minnesota

Getting an SBA Loan in Minnesota