Colorado Entrepreneur Secures Financing to Buy Dairy Queen Franchise

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

If you live near Loveland, Colorado and are interested in buying a Dairy Queen franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by First National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LOVELAND DAIRY QUEEN
LOVELAND, CO 80537

SBA Loan Lender

FIRST NATIONAL BANK
750 N LINCOLN AVE
LOVELAND, CO 80537

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/18/2001

Loan Approval Gross Amount

$91,000

Loan Approval from the SBA

Of the total $91,000 loan amount, the SBA guaranteed $68,250.

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 35 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

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.

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Getting an SBA Loan in Colorado