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November 21, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Sheboygan, Business Loans > Community Bank & Trust Sheboygan Business Loans > Quizno's Slinger Loan | ||||
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SBA 7A Banks in Wisconsin
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Slinger, WI Entrepreneur Gets SBA Loan to Buy Quiznos FranchiseBorrowing money to invest in a Quiznos franchise? Community Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Slinger, Wisconsin needed money to invest in a Quiznos franchise back in 2001. Community Bank & Trust issued an SBA franchise loan. Here are the details on this Wisconsin small business loan. SBA Loan Borrower QUIZNO'S SLINGER SBA Loan Lender COMMUNITY BANK & TRUST This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/7/2001 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: The Friends and Family Network Small Business Banks in Sheboygan, Wisconsin
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