Borrow Money to Buy a Quiznos Franchise

Need money to buy a Quiznos franchise? State Bank Of The Lakes has a history of making these loans and they are guaranteed by the SBA.

Quiznos franchise loans are available to Grayslake, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, State Bank Of The Lakes, based in Antioch, Illinois, issued an SBA franchise loan for a Quiznos franchise in 2002. We've got all the details on this Illinois small business loan.

SBA Loan Borrower

QUIZNO'S
GRAYSLAKE, IL 60030

SBA Loan Lender

STATE BANK OF THE LAKES
440 LAKE ST
ANTIOCH, IL 60002

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

1/16/2002

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 an existing business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Grayslake IL, you ought to talk with a local Grayslake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grayslake businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into State Bank Of The Lakes and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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