Loan to Buy Quiznos Franchise Issued By Independence Bank

Need money to buy a Quiznos franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in West Covina, California needed money to invest in a Quiznos franchise back in 2003. Independence Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

QUIZNOS SUBS
WEST COVINA, CA 91790

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

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

10/28/2003

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 10 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in West Covina CA, you ought to talk with a local West Covina SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West Covina businesses.

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.

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