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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Quizno's Subs Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Borrow Money to Buy a Quiznos FranchiseBorrowing money to purchase a Quiznos franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Southfield, Michigan needed money to invest in a Quiznos franchise back in 2005. Independence Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower QUIZNO'S SUBS SBA Loan Lender INDEPENDENCE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/30/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 7 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, anyone can do it... so why not you? 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: Banks in East Greenwich, Rhode Island
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