 |
 |
November 22, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Michigan Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Quizno's Loan | ||||
 |
||||
Temecula Valley Bank SBA 7A Franchise Loans
|
||||
 |
Michigan Entrepreneur Secures Financing to Buy Quiznos FranchiseNeed money to buy a Quiznos franchise? Temecula Valley Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Holland, Michigan and are interested in buying a Quiznos franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Temecula Valley Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower QUIZNO'S SBA Loan Lender TEMECULA VALLEY BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. 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 8/26/2002 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Borrowing Money from Friends and Family SBA 7A Banks for Temecula, California Loans
|
|
||
|
||||
|
|
||||