Loan to Buy Quiznos Franchise Issued By Park National Bank

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

Getting money to buy a Quiznos franchise requires some effort but others before you have been successful. In 2002, Park National Bank issued an SBA franchise loan to an entrepreneur in Bartlett, Illinois. Because Quiznos was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

HANUMANT CORPORATION
BARTLETT, IL 60103

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

This was a Low Documentation SBA loan. The SBA created this program to reduce 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/14/2002

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

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 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Park National 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.

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