Pioneer Community Bank, Inc. Provides SBA Loan to Buy Quiznos Franchise

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

Getting money to buy a Quiznos franchise is doable. In 2003, Pioneer Community Bank, Inc. issued an SBA franchise loan to an entrepreneur in Beckley, West Virginia. Because Quiznos was registered with the SBA's registry of franchises, this West Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNO'S SUBS
BECKLEY, WV 25801

SBA Loan Lender

PIONEER COMMUNITY BANK, INC.
822 ROBERT C BYRD DR
SOPHIA, WV 25921

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 13 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pioneer Community Bank, Inc. and they will explain how you can get an SBA loan for your company.

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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