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January 29, 2023  
 
 
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Advice for Financing a Franchise

 

 
Loan Census SBA Loan Info

Aberdeen, SD Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

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

Quiznos franchise loans are available to Aberdeen, South Dakota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Great Western Bank, based in Aberdeen, South Dakota, issued an SBA franchise loan for a Quiznos franchise in 2003. We've got all the details on this South Dakota small business loan.

SBA Loan Borrower

ARMENT INVESTMENTS,LLC/QUIZNOS
ABERDEEN, SD 57401

SBA Loan Lender

GREAT WESTERN BANK
119 6TH AVE SE
ABERDEEN, SD 57402

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/20/2003

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 7 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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Good Banks for Small Business in Aberdeen, South Dakota

South Dakota SBA Bank Lenders