Community Bank - Red River Valle Provides SBA Loan to Buy Quiznos Franchise

Need money to buy a Quiznos franchise? Community Bank - Red River Valle has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Grand Forks, North Dakota needed money to invest in a Quiznos franchise back in 2000. Community Bank - Red River Valle issued an SBA franchise loan. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

QUIZNO'S CLASSIC SUBS
GRAND FORKS, ND 58201

SBA Loan Lender

COMMUNITY BANK - RED RIVER VALLE
1616 S WASHINGTON ST
GRAND FORKS, ND 58201

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

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

12/5/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 22 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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