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May 2, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Quizno's Subs Loan | ||||
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Stearns Bank SBA 7A Franchise Loans
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Loan to Buy Quiznos Franchise Issued By Stearns BankNeed money to invest in 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 shouldn't be overly burdensome. In 2004, Stearns Bank issued an SBA franchise loan to an entrepreneur in Kissimmee, Florida. Because Quiznos was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis. SBA Loan Borrower QUIZNO'S SUBS SBA Loan Lender STEARNS BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/29/2004 Loan Approval Gross Amount $149,000 Loan Approval from the SBA Of the total $149,000 loan amount, the SBA guaranteed $126,650. 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 15 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $149,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Lenders in Saint Cloud, Minnesota
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