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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Fort Pierce, Business Loans > Riverside National Bank - Florida Fort Pierce Business Loans > Quizno's Subs Loan | ||||
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Florida Small Business Funding for Franchises
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Loan to Buy Quiznos Franchise Issued By Riverside National Bank - FloridaNeed money to purchase a Quiznos franchise? Riverside National Bank - Florida has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Merritt Island, Florida needed money to invest in a Quiznos franchise back in 2002. Riverside National Bank - Florida issued an SBA franchise loan. Here are the details on this Florida small business loan. SBA Loan Borrower QUIZNO'S SUBS SBA Loan Lender RIVERSIDE NATIONAL BANK - FLORIDA This business loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722310 - Food Service Contractors Loan Approval Date 7/18/2002 Loan Approval Gross Amount $280,000 Loan Approval from the SBA Of the total $280,000 loan amount, the SBA guaranteed $210,000. 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 11 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Best Fort Pierce, Florida Banks for Small Business
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