Borrow Money to Buy a Dream Dinners Franchise

Borrowing money to invest in a Dream Dinners franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Grand Rapids, Michigan needed money to invest in a Dream Dinners franchise back in 2004. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

DREAM DINNERS
GRAND RAPIDS, MI 59503

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This was a Low Documentation SBA loan. The SBA launched 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. 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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$73,350

Loan Approval from the SBA

Of the total $73,350 loan amount, the SBA guaranteed $62,347.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Dream Dinners

The Friends and Family Network

Best Banks in Grand Rapids, Michigan

Where to Get an SBA Loan Michigan