Loan Census Banking News and Information
October 17, 2021  
 
 
  Business Loan Information  
 

I Need an SBA Loan to Buy a Franchise in Hoover, Alabama

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Quiznos Franchise

Borrowing money to invest in a Quiznos franchise? Independence 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 2006, Independence Bank issued an SBA franchise loan to an entrepreneur in Hoover, Alabama. Because Quiznos was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNOS SUB
HOOVER, AL 35244

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/6/2006

Loan Approval Gross Amount

$169,500

Loan Approval from the SBA

Of the total $169,500 loan amount, the SBA guaranteed $127,125.

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. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Independence Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Small Business Banks in East Greenwich, Rhode Island

Rhode Island SBA Banks