Loan to Buy Quiznos Franchise Issued By Bank Of Granite

Need a loan to invest in a Quiznos franchise? Bank Of Granite has a history of making these loans and they are guaranteed by the SBA.

Quiznos franchise loans are available to Hickory, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of Granite, based in Morganton, North Carolina, issued an SBA franchise loan for a Quiznos franchise in 2005. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

QUIZNOS SUBS
HICKORY, NC 28601

SBA Loan Lender

BANK OF GRANITE
201 E MEETING ST
MORGANTON, NC 28655

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

722211 - Limited-Service Restaurants

Loan Approval Date

9/29/2005

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 6 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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

How Equity Dilution Works

Where to Get an SBA Loan in Morganton, North Carolina

Getting a Business Loan in North Carolina