Canton, OH Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

Borrowing money to purchase a Quiznos franchise? Firstmerit Bank has a history of making these loans and they are guaranteed by the SBA.

Quiznos franchise loans are available to Canton, Ohio entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Firstmerit Bank, based in Akron, Ohio, issued an SBA franchise loan for a Quiznos franchise in 2005. We've got all the details on this Ohio small business loan.

SBA Loan Borrower

QUIZNO'S
CANTON, OH 44709

SBA Loan Lender

FIRSTMERIT BANK
3 CASCADE PLZ
AKRON, OH 44308

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/9/2005

Loan Approval Gross Amount

$73,100

Loan Approval from the SBA

Of the total $73,100 loan amount, the SBA guaranteed $36,550.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Firstmerit Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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