Michigan Entrepreneur Secures Financing to Buy Quiznos Franchise

Need a loan to buy a Quiznos franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in St. Clair Shores, Michigan needed money to invest in a Quiznos franchise back in 2004. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

QUIZNO'S
ST. CLAIR SHORES, MI 48080

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/16/2004

Loan Approval Gross Amount

$78,500

Loan Approval from the SBA

Of the total $78,500 loan amount, the SBA guaranteed $39,250.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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Where to Get an SBA Loan in Columbus, Ohio

Getting an SBA Loan in Ohio