Borrow Money to Buy a Quiznos Franchise

Need a loan to buy a Quiznos franchise? United Prairie Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Quiznos franchise is doable. In 2002, United Prairie Bank issued an SBA franchise loan to an entrepreneur in New Ulm, Minnesota. Because Quiznos was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

QUIZNO'S OF NEW ULM
NEW ULM, MN 56073

SBA Loan Lender

UNITED PRAIRIE BANK
200 N BROADWAY
NEW ULM, MN 56073

This was a Low Documentation SBA loan. The SBA started this program to minimize 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. 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

722110 - Full-Service Restaurants

Loan Approval Date

9/3/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Prairie Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Prairie 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.

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