Independence Bank Provides SBA Loan to Buy Subway Sandwich Shop Franchise
Borrowing money to invest in a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Subway Sandwich Shop franchise is doable. In 2003, Independence Bank issued an SBA franchise loan to an entrepreneur in Boston, Massachusetts. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.
SBA Loan Borrower
SUBWAY
BOSTON, MA 02127
SBA Loan Lender
INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818
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.
SIC Code
5812 - Eating Places
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
3/13/2003
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 10 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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