Lafayette Ambassador Bank Provides SBA Loan to Buy Quiznos Franchise

Need a loan to purchase a Quiznos franchise? Lafayette Ambassador Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Allentown, Pennsylvania needed money to invest in a Quiznos franchise back in 2004. Lafayette Ambassador Bank issued an SBA franchise loan. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

QUIZNO'S SUBS
ALLENTOWN, PA 18101

SBA Loan Lender

LAFAYETTE AMBASSADOR BANK
BROAD & NEW STREETS
BETHLEHEM, PA 18018

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves 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

7/1/2004

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lafayette Ambassador Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lafayette Ambassador Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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