Merrill Merchants Bank Provides SBA Loan to Buy Dairy Queen Franchise
Borrowing money to invest in a Dairy Queen franchise? Merrill Merchants Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Waterville, Maine needed money to invest in a Dairy Queen franchise back in 2007. Merrill Merchants Bank issued an SBA franchise loan. Here are the details on this Maine small business loan.
SBA Loan Borrower
DAIRY QUEEN
WATERVILLE, ME 04901
SBA Loan Lender
MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401
This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
12/7/2007
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $12,750.
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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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Maine SBA 7A Lenders