Carlsbad, CA Entrepreneur Gets SBA Loan to Buy Submarina Sandwiches Franchise

Need money to purchase a Submarina Sandwiches franchise? First Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Submarina Sandwiches franchise requires some effort but others before you have been successful. In 2002, First Bank issued an SBA franchise loan to an entrepreneur in Carlsbad, California. Because Submarina Sandwiches was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

SUBMARINA
CARLSBAD, CA 92008

SBA Loan Lender

FIRST BANK
318 4TH AVE
CHULA VISTA, CA 91910

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/21/2002

Loan Approval Gross Amount

$82,000

Loan Approval from the SBA

Of the total $82,000 loan amount, the SBA guaranteed $64,780.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Submarina Sandwiches franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Submarina Sandwiches

Determining Proper Capital Structure for a Business

SBA 7A Banks in Chula Vista, California

Getting a Business Loan in California