Borrow Money to Buy a Quizno's Subs Franchise

Borrowing money to purchase a Quizno's Subs franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Quizno's Subs franchise may simply require a phone call to a local SBA banker. In 2004, Bank Of America issued an SBA franchise loan to an entrepreneur in Manassas, Virginia. Because Quizno's Subs was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

NILKHANT, INC. DBA QUIZNOS SUB
MANASSAS, VA 20110

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

6/30/2004

Loan Approval Gross Amount

$47,000

Loan Approval from the SBA

Of the total $47,000 loan amount, the SBA guaranteed $23,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Quizno's Subs franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Manassas VA, you ought to talk with a local Manassas SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Manassas businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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