Wildwood, NJ Entrepreneur Gets SBA Loan to Buy Dairy Queen Franchise

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

Dairy Queen franchise loans are available to Wildwood, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Philadelphia, Pennsylvania, issued an SBA franchise loan for a Dairy Queen franchise in 2003. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

DAIRY QUEEN
WILDWOOD, NJ 08260

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This lender processed this SBA small 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

445299 - Specialty Food Stores

Loan Approval Date

3/27/2003

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dairy Queen franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Commerce 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

Financing Your Business

Banks in Philadelphia, Pennsylvania

Pennsylvania SBA Banks