Alerus Financial Provides SBA Loan to Buy Quiznos Franchise

Borrowing money to invest in a Quiznos franchise? Alerus Financial has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Quiznos franchise shouldn't be overly burdensome. In 2005, Alerus Financial issued an SBA franchise loan to an entrepreneur in Grand Forks, North Dakota. Because Quiznos was registered with the SBA's registry of franchises, this North Dakota small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNO'S SUBS
GRAND FORKS, ND 58201

SBA Loan Lender

ALERUS FINANCIAL
401 DEMERS AVE
GRAND FORKS, ND 58201

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

1/28/2005

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $70,000.

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 only one employee. The loan application indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Alerus Financial and they will explain how you can get an SBA loan for your company.

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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