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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Lasalle Bank Chicago Business Loans > Subway Loan | ||||
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Tips for Financing a Franchise
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Lasalle Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to purchase a Subway Sandwich Shop franchise? Lasalle Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Carpentersville, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Lasalle Bank, based in Chicago, Illinois, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2004. We've got all the details on this Illinois small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender LASALLE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 445291 - Baked Goods Stores Loan Approval Date 4/21/2004 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $72,500. 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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Role of Business Plan When Raising Money Best Banks for Small Business in Chicago, Illinois Find an SBA Lender in Illinois
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