Loan to Buy Subway Sandwich Shop Franchise Issued By Banco Popular De Puerto Rico

Need money to invest in a Subway Sandwich Shop franchise? Banco Popular De Puerto Rico has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bayamon, needed money to invest in a Subway Sandwich Shop franchise back in 2007. Banco Popular De Puerto Rico issued an SBA franchise loan. Here are the details on this small business loan.

SBA Loan Borrower

E J QUALITY PRODUCTS INC
BAYAMON, PR 00957

SBA Loan Lender

BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/21/2007

Loan Approval Gross Amount

$199,500

Loan Approval from the SBA

Of the total $199,500 loan amount, the SBA guaranteed $149,625.

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 no employees. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $199,500 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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