Paramus, NJ Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

Borrowing money to purchase a Quiznos franchise? Pnc Bank, National Association has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Paramus, New Jersey needed money to invest in a Quiznos franchise back in 2004. Pnc Bank, National Association issued an SBA franchise loan. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

MONITA PARMAMUS
PARAMUS, NJ 07657

SBA Loan Lender

PNC BANK, NATIONAL ASSOCIATION
249 FIFTH AVE
PITTSBURGH, PA 15222

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/6/2004

Loan Approval Gross Amount

$249,100

Loan Approval from the SBA

Of the total $249,100 loan amount, the SBA guaranteed $186,825.

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 2 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Paramus or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Borrowing Money from Friends and Family

SBA Participating Banks in Pittsburgh, Pennsylvania

Pennsylvania SBA 7A Lenders