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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cottage Grove, Business Loans > Merchants Bank Cottage Grove Business Loans > Quizno's Classic Subs Loan | ||||
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Merchants Bank SBA 7A Franchise Loans
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Merchants Bank Provides SBA Loan to Buy Quiznos FranchiseBorrowing money to buy a Quiznos franchise? Merchants Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Hastings, Minnesota needed money to invest in a Quiznos franchise back in 2000. Merchants Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan. SBA Loan Borrower QUIZNO'S CLASSIC SUBS SBA Loan Lender MERCHANTS BANK This lender issued this particular SBA small business 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 Loan Approval Date 1/10/2000 Loan Approval Gross Amount $124,000 Loan Approval from the SBA Of the total $124,000 loan amount, the SBA guaranteed $93,000. 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 loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Hastings or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Cottage Grove, Minnesota
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