Independence Bank Provides SBA Loan to Buy Quiznos Franchise

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

Getting money to buy a Quiznos franchise shouldn't be too tough. In 2004, Independence Bank issued an SBA franchise loan to an entrepreneur in Chesterfield, Missouri. Because Quiznos was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNOS SUBS
CHESTERFIELD, MO 63017

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/25/2004

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

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 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $95,000. How would you spend $95,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

Related Links:

Quiznos Sub

How Much Venture Capital Is There?

Who Lends Money to Small Businesses in East Greenwich, Rhode Island

Rhode Island SBA 7A Banks