Cathay Bank Provides SBA Loan to Buy Quiznos Franchise

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

Getting money to buy a Quiznos franchise may simply require a phone call to a local SBA banker. In 2006, Cathay Bank issued an SBA franchise loan to an entrepreneur in Greensboro, North Carolina. Because Quiznos was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNO'S
GREENSBORO, NC 27407

SBA Loan Lender

CATHAY BANK
1769 RTE 27
EDISON, NJ 08817

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/26/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cathay Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cathay Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Quiznos Sub

How Much Venture Capital Is There?

Best Banks in Edison, New Jersey

SBA New Jersey Lenders