Iowa Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Need money to purchase a Subway Sandwich Shop franchise? Exchange State Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Adair, Iowa entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Exchange State Bank, based in Adair, Iowa, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2003. We've got all the details on this Iowa small business loan.

SBA Loan Borrower

ADAIR SUBWAY
ADAIR, IA 50112

SBA Loan Lender

EXCHANGE STATE BANK
322 AUDUBON ST
ADAIR, IA 50002

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/14/2003

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 Subway Sandwich Shop franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Exchange State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Subway

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Iowa SBA Banks