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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Norfolk, Business Loans > Bank Of The Commonwealth Norfolk Business Loans > Quizno's Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Norfolk, VA Entrepreneur Gets SBA Loan to Buy Quiznos FranchiseNeed a loan to purchase a Quiznos franchise? Bank Of The Commonwealth has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Norfolk, Virginia needed money to invest in a Quiznos franchise back in 2003. Bank Of The Commonwealth issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower QUIZNO'S SBA Loan Lender BANK OF THE COMMONWEALTH The lender provided this loan for a small business 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 11/18/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. 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 10 employees. The loan application indicated that the loan would help create 1 new job. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Obtaining Funding - Getting Venture Capital Best Norfolk, Virginia Banks for Small Business
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