Wadsworth, IL Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Need money to purchase a Dairy Queen franchise? First Banking Center has a history of making these loans and they are guaranteed by the SBA.

Dairy Queen franchise loans are available to Wadsworth, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Banking Center, based in Burlington, Wisconsin, issued an SBA franchise loan for a Dairy Queen franchise in 2006. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

LIGHTHALLS INC
WADSWORTH, IL 60083

SBA Loan Lender

FIRST BANKING CENTER
400 MILWAUKEE AVE
BURLINGTON, WI 53105

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 9 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Banking Center and they will explain how you can get an SBA loan for your company.

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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