Chicago, IL Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

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

Quiznos franchise loans are available to Chicago, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Bannockburn, Illinois, issued an SBA franchise loan for a Quiznos franchise in 2005. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

HMN ENTERPRISES LLC
Chicago, IL 60657

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$132,500

Loan Approval from the SBA

Of the total $132,500 loan amount, the SBA guaranteed $66,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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

Borrowing Money from Friends and Family

SBA 7A Banks in Bannockburn, Illinois

SBA Participating Banks in Illinois