Ameristate Bank Provides SBA Loan to Buy Quiznos Franchise

Borrowing money to invest in a Quiznos franchise? Ameristate Bank has a history of making these loans and they are guaranteed by the SBA.

Quiznos franchise loans are available to Atoka, Oklahoma entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Ameristate Bank, based in Atoka, Oklahoma, issued an SBA franchise loan for a Quiznos franchise in 2003. We've got all the details on this Oklahoma small business loan.

SBA Loan Borrower

QUIZNO'S SUBS OF ATOKA OK
ATOKA, OK 74525

SBA Loan Lender

AMERISTATE BANK
113 S PENNSYLVANIA ST
ATOKA, OK 74525

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/22/2003

Loan Approval Gross Amount

$237,916

Loan Approval from the SBA

Of the total $237,916 loan amount, the SBA guaranteed $118,958.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 8 new jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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