National Penn Bank Provides SBA Loan to Buy Quiznos Franchise
Need a loan to purchase a Quiznos franchise? National Penn Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Quiznos franchise? If so, here's a 2004 SBA franchise loan that you should know about. National Penn Bank was the lender and the entrepreneur was based in Royersford, Pennsylvania.
SBA Loan Borrower
MDMJLM LLC
ROYERSFORD, PA 19468
SBA Loan Lender
NATIONAL PENN BANK
PHILADELPHIA & READING AVES
BOYERTOWN, PA 19512
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
4/27/2004
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $106,250.
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 15 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add 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.
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 National Penn Bank 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.
Related Links:
Quiznos Sub
Business Credit Evaluation
Good Banks for Small Business in Boyertown, Pennsylvania
Pennsylvania SBA 7A Lenders