Elk River, MN Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

Need a loan to buy a Quiznos franchise? Community Pride Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Quiznos franchise? If so, here's a 2001 SBA franchise loan that you should know about. Community Pride Bank was the lender and the entrepreneur was based in Elk River, Minnesota.

SBA Loan Borrower

QUIZNO'S CLASSIC SUBS
ELK RIVER, MN 55330

SBA Loan Lender

COMMUNITY PRIDE BANK
901 NICKLAUS COURT
ISANTI, MN 55040

This was a Low Documentation SBA loan. The SBA launched this program to limit 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. 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/10/2001

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 15 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

Small Business Loan

Small Business Banks in Isanti, Minnesota

SBA Participating Banks in Minnesota