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

Borrowing money to buy a Dairy Queen franchise? National Bank & Trust - Sycamore has a history of making these loans and they are guaranteed by the SBA.

Dairy Queen franchise loans are available to Westmont, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National Bank & Trust - Sycamore, based in Sycamore, Illinois, issued an SBA franchise loan for a Dairy Queen franchise in 2003. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

DAIRY QUEEN
WESTMONT, IL 60559

SBA Loan Lender

NATIONAL BANK & TRUST - SYCAMORE
230 W STATE ST
SYCAMORE, IL 60178

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

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

3/21/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $110,000 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.

Related Links:

Dairy Queen

Role of Business Plan When Raising Money

Small Bank Loans in Sycamore, Illinois

SBA Lenders in Illinois