Florida Entrepreneur Secures Financing to Buy Obee's Soup Salad Subs Franchise

Borrowing money to invest in an Obee's Soup Salad Subs franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Obee's Soup Salad Subs franchise requires some effort but others before you have been successful. In 2002, Regions Bank issued an SBA franchise loan to an entrepreneur in Cape Coral, Florida. Because Obee's Soup Salad Subs was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

OBEE'S
CAPE CORAL, FL 33904

SBA Loan Lender

REGIONS BANK
250 RIVERCHASE PKWY E RCS-1 B
BIRMINGHAM, AL 35244

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/18/2002

Loan Approval Gross Amount

$69,500

Loan Approval from the SBA

Of the total $69,500 loan amount, the SBA guaranteed $59,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Obee's Soup Salad Subs franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This SBA loan was for $69,500. How would you spend $69,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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