Borrow Money to Buy a Mr. Goodcents Sub' And Pasta Franchise

Need money to purchase a Mr. Goodcents Sub' And Pasta franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mr. Goodcents Sub' And Pasta franchise? If so, here's a 2003 SBA franchise loan that you should know about. Regions Bank was the lender and the entrepreneur was based in Carbon, Illinois.

SBA Loan Borrower

MR GOODSCENTS SUBS AND PASTAS
CARBON, IL 62034

SBA Loan Lender

REGIONS BANK
10449 ST. CHARLES ROCK RD
SAINT ANN, MO 63074

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

722211 - Limited-Service Restaurants

Loan Approval Date

8/4/2003

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 Mr. Goodcents Sub' And Pasta franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Mr. Goodcents Subs & Pastas

Financing Your Business

SBA 7A Banks for Saint Ann, Missouri Loans

Getting a Business Loan in Missouri