Greenville, DE Entrepreneur Gets SBA Loan to Buy Quiznos Franchise

Need a loan to buy a Quiznos franchise? Wilmington Savings Fund Societ has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Greenville, Delaware needed money to invest in a Quiznos franchise back in 2003. Wilmington Savings Fund Societ issued an SBA franchise loan. Here are the details on this Delaware small business loan.

SBA Loan Borrower

QUIZNO'S SUBS
GREENVILLE, DE 19807

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/6/2003

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 4 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wilmington Savings Fund Societ and they will explain how you can get an SBA loan for your company.

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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