Atlantic, IA Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Borrowing money to purchase a Subway Sandwich Shop franchise? United Bank Of Iowa has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Atlantic, Iowa needed money to invest in a Subway Sandwich Shop franchise back in 2006. United Bank Of Iowa issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

JALAS ENTERPRISES, INC.
ATLANTIC, IA 51445

SBA Loan Lender

UNITED BANK OF IOWA
501 2ND ST
IDA GROVE, IA 51445

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/4/2006

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

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 44 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 $430,000 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.

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