Chicopee, MA Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

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

Quiznos franchise loans are available to Chicopee, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Newalliance Bank, based in West Springfield, Massachusetts, issued an SBA franchise loan for a Quiznos franchise in 2005. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

QUIZNOS
CHICOPEE, MA 01020

SBA Loan Lender

NEWALLIANCE BANK
225 PARK AVE
WEST SPRINGFIELD, MA 01089

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/30/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 12 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees 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.

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.

Related Links:

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Angel Investors

SBA 7A Banks in West Springfield, Massachusetts

SBA Participating Banks in Massachusetts