Loan to Buy Dixie Cream Donuts Franchise Issued By First Mid-Illinois Bank & Trust

Borrowing money to purchase a Dixie Cream Donuts franchise? First Mid-Illinois Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Tuscola, Illinois and are interested in buying a Dixie Cream Donuts franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First Mid-Illinois Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

DIXIE CREAM DONUTS
TUSCOLA, IL 61953

SBA Loan Lender

FIRST MID-ILLINOIS BANK & TRUST
410 S MAIN
TUSCOLA, IL 61953

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

9/8/2004

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 Dixie Cream Donuts franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 $150,000 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:

Small Business Credit Cards

Where to Get an SBA Loan in Tuscola, Illinois

Getting an SBA Loan in Illinois