West Frankfort, IL Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

Need a loan to invest in a Dairy Queen franchise? Old National Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Dairy Queen franchise? If so, here's a 2000 SBA franchise loan that you should know about. Old National Bank was the lender and the entrepreneur was based in West Frankfort, Illinois.

SBA Loan Borrower

DAIRY QUEEN
WEST FRANKFORT, IL 62896

SBA Loan Lender

OLD NATIONAL BANK
2 E LOCUST ST
HARRISBURG, IL 62946

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/21/2000

Loan Approval Gross Amount

$30,135

Loan Approval from the SBA

Of the total $30,135 loan amount, the SBA guaranteed $22,601.

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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Old National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dairy Queen

A Company That Helps Entrepreneurs

Find an SBA Lender in Harrisburg, Illinois

SBA Illinois Lenders