Loan to Buy Quiznos Franchise Issued By Commerce Bank

Borrowing money to invest in a Quiznos franchise? Commerce 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 2005 SBA franchise loan that you should know about. Commerce Bank was the lender and the entrepreneur was based in Schenectady, New York.

SBA Loan Borrower

QUIZNO'S SUBS
SCHENECTADY, NY 12305

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/29/2005

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 2 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.

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

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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.

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