Loan to Buy Quiznos Franchise Issued By Shorebank

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

If you live near Chicago, Illinois and are interested in buying a Quiznos franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Shorebank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

QUIZNO'S RESTAURANT (GEE QUIZ,
CHICAGO, IL 60615

SBA Loan Lender

SHOREBANK
7054 S JEFFREY AVE
CHICAGO, IL 60649

This was a Low Documentation SBA loan. The SBA launched this program to limit 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/24/2004

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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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

If you are working on finding money to start a business in Chicago IL, you ought to talk with a local Chicago SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chicago businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shorebank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shorebank 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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