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November 21, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Quiznos Subs Loan | ||||
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Business Loans for Neenah Small Businesses
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Neenah, WI Entrepreneur Gets SBA Loan to Buy Quiznos FranchiseBorrowing money to invest in a Quiznos franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. Quiznos franchise loans are available to Neenah, Wisconsin entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Independence Bank, based in East Greenwich, Rhode Island, issued an SBA franchise loan for a Quiznos franchise in 2005. We've got all the details on this Wisconsin small business loan. SBA Loan Borrower QUIZNOS SUBS SBA Loan Lender INDEPENDENCE BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. 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 6/30/2005 Loan Approval Gross Amount $167,000 Loan Approval from the SBA Of the total $167,000 loan amount, the SBA guaranteed $125,250. 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 14 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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: Who Lends Money to Small Businesses in East Greenwich, Rhode Island Getting an SBA Loan in Rhode Island
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