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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Kailua Kona, Business Loans > Bank Of Hawaii Kailua Kona Business Loans > Kona Dq Loan | ||||
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Michigan Small Business Funding for Franchises
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Waaterford, MI Entrepreneur Gets SBA Loan to Buy Dairy Queen FranchiseBorrowing money to purchase a Dairy Queen franchise? Bank Of Hawaii has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Dairy Queen franchise may simply require a phone call to a local SBA banker. In 2000, Bank Of Hawaii issued an SBA franchise loan to an entrepreneur in Waaterford, Michigan. Because Dairy Queen was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis. SBA Loan Borrower KONA DQ SBA Loan Lender BANK OF HAWAII This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 5/11/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 5 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: Who Lends Money to Small Businesses in Kailua Kona, Hawaii
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