Corning, NY Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

Borrowing money to purchase a Quiznos franchise? Manufacturers & Traders Trust has a history of making these loans and they are guaranteed by the SBA.

Quiznos franchise loans are available to Corning, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Manufacturers & Traders Trust, based in Amherst, New York, issued an SBA franchise loan for a Quiznos franchise in 2005. We've got all the details on this New York small business loan.

SBA Loan Borrower

QUIZNOS SUBS
CORNING, NY 14830

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

6/20/2005

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 22 employees. The loan application did not indicate that the company planned to use the funding to hire new 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Manufacturers & Traders Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Alternative Financing

SBA 7A Banks for Amherst, New York Loans

New York SBA Bank Lenders