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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Taos, Business Loans > First Community Bank Taos Business Loans > Subway Loan | ||||
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Banks for Albuquerque, New Mexico Businesses
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Albuquerque, NM Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? First Community Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Albuquerque, New Mexico needed money to invest in a Subway Sandwich Shop franchise back in 2001. First Community Bank issued an SBA franchise loan. Here are the details on this New Mexico small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender FIRST COMMUNITY BANK 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 722110 - Full-Service Restaurants Loan Approval Date 8/8/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Raising VC Money for Social Networking Companies SBA Participating Banks in Taos, New Mexico
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