Loan to Buy Dairy Queen Franchise Issued By Wells Fargo Bank

Borrowing money to purchase a Dairy Queen franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dairy Queen franchise requires some effort but others before you have been successful. In 2005, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Virginia, 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 OF VIRGINIA
VIRGINIA, MN 55792

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/24/2005

Loan Approval Gross Amount

$1,180,000

Loan Approval from the SBA

Of the total $1,180,000 loan amount, the SBA guaranteed $885,000.

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 17 employees. The SBA loan documents indicated that the loan would help retain 17 existing jobs.

Next Steps for Getting an SBA Loan

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 $1,180,000 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.

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