New York Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise
Need a loan to invest in a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Carthage, New York needed money to invest in a Subway Sandwich Shop franchise back in 2005. Independence Bank issued an SBA franchise loan. Here are the details on this New York small business loan.
SBA Loan Borrower
SUBWAY SANDWICH SHOP
CARTHAGE, NY 13619
SBA Loan Lender
INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818
This lender issued this particular debt financing 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.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
6/20/2005
Loan Approval Gross Amount
$115,000
Loan Approval from the SBA
Of the total $115,000 loan amount, the SBA guaranteed $97,750.
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 15 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Independence Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Subway
Attracting Investors
SBA Banks in East Greenwich, Rhode Island
Rhode Island SBA Bank Lenders