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May 9, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Quizno's Subs Loan | ||||
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Raising Money in West Palm Beach, Florida With SBA Loans
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Loan to Buy Quiznos Franchise Issued By Regions BankBorrowing money to purchase a Quiznos franchise? Regions 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 too tough. In 2004, Regions Bank issued an SBA franchise loan to an entrepreneur in West Palm Beach, 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 REGIONS BANK This was a Low Documentation SBA loan. The SBA created 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. 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 7/7/2004 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 5 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Memphis, Tennessee
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