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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Quizno's Subs Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Hazel Park, MI Entrepreneur Gets SBA Loan to Buy Quiznos FranchiseNeed money to purchase a Quiznos franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. Quiznos franchise loans are available to Hazel Park, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Quiznos franchise in 2004. We've got all the details on this Michigan small business loan. SBA Loan Borrower QUIZNO'S SUBS SBA Loan Lender STEARNS BANK 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. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/25/2004 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 14 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Best Banks for Small Business in Saint Cloud, Minnesota Where to Get an SBA Loan Minnesota
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