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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Quiznos Subs Loan | ||||
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Independence Bank SBA Franchise Loans
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Independence Bank Provides SBA Loan to Buy Quiznos FranchiseNeed money to invest in a Quiznos franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Inglewood, California needed money to invest in a Quiznos franchise back in 2005. Independence Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower QUIZNOS SUBS SBA Loan Lender INDEPENDENCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 11/3/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 5 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Determining Proper Capital Structure for a Business SBA Participating Banks in East Greenwich, Rhode Island
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