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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > Sunrise Bank Of Arizona San Diego Business Loans > Dairy Queen, El Cajon Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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California Entrepreneur Secures Financing to Buy Dairy Queen FranchiseNeed a loan to invest in a Dairy Queen franchise? Sunrise Bank Of Arizona has a history of making these loans and they are guaranteed by the SBA. Dairy Queen franchise loans are available to El Cajon, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sunrise Bank Of Arizona, based in San Diego, California, issued an SBA franchise loan for a Dairy Queen franchise in 2000. We've got all the details on this California small business loan. SBA Loan Borrower DAIRY QUEEN, EL CAJON SBA Loan Lender SUNRISE BANK OF ARIZONA This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 9/29/2000 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $86,250. 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 11 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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. Related Links: Best Banks for Small Business in San Diego, California
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