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May 1, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Quizno's Loan | ||||
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Iowa Small Business Funding for Franchises
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Stearns Bank Provides SBA Loan to Buy Quiznos FranchiseBorrowing money to buy a Quiznos franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Quiznos franchise requires some effort but others before you have been successful. In 2004, Stearns Bank issued an SBA franchise loan to an entrepreneur in Des Moines, Iowa. Because Quiznos was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis. SBA Loan Borrower QUIZNO'S SBA Loan Lender STEARNS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 5/3/2004 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 an existing business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, if it to be, it is up to me! 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: Find an SBA Lender in Saint Cloud, Minnesota
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