Loan to Buy Quiznos Franchise Issued By National City Bank

Borrowing money to invest in a Quiznos franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Quiznos franchise may simply require a phone call to a local SBA banker. In 2004, National City Bank issued an SBA franchise loan to an entrepreneur in Lexington, Illinois. Because Quiznos was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNO'S SUBS
LEXINGTON, IL 61753

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

3/24/2004

Loan Approval Gross Amount

$138,400

Loan Approval from the SBA

Of the total $138,400 loan amount, the SBA guaranteed $69,200.

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 32 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 32 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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

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SBA Banks in Bannockburn, Illinois

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