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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Quiznos Subs Loan | ||||
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I Need a Small Business Loan to Buy a Franchise in Dallas, Texas
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Borrow Money to Buy a Quiznos FranchiseBorrowing money to buy a Quiznos franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Dallas, Texas needed money to invest in a Quiznos franchise back in 2003. Independence Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower QUIZNOS SUBS SBA Loan Lender INDEPENDENCE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/6/2003 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 5 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Advice on Getting a Small Business Loan Good Banks for Small Business in East Greenwich, Rhode Island Browse All Business Loan Sources for Rhode Island
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