This past August, Anchorage, Alaska-based DQ Grill and Chill was honored with the distinction of being one of the Small Business Administration's 100 companies that have added more than 100 jobs due to an SBA loan.
Owner Greg Todd took over the Grill and Chill franchise in 2006, and after months of not being able to find small business lending support, he discovered the SBA's 504 loan program which provided him the financing he needed, according to the SBA's website.
A 504 loan provides small businesses with long-term, fixed-rate financing to purchase major fixed assets for expansion.
Four months after opening his first store, he added a second which broke the company's all-time day, week and month sales records since DQ's first store opened in 1940.
"DQ Grill and Chill is a great example of how the SBA helps entrepreneurs grow their dreams," said SBA district director, Karen Forsland. "Greg is a dedicated and hard-working Alaskan whose small business creates local jobs and in turn helps grow Alaska’s economy."
Grill and Chill employs more than 100 workers across four locations in the Anchorage area.