Castle Hayne, NC Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Borrowing money to purchase a Subway Sandwich Shop franchise? Waccamaw Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Castle Hayne, North Carolina needed money to invest in a Subway Sandwich Shop franchise back in 2005. Waccamaw Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

SUBWAY
CASTLE HAYNE, NC 28429

SBA Loan Lender

WACCAMAW BANK
29 S KERR AVE
WILMINGTON, NC 28403

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/2/2005

Loan Approval Gross Amount

$108,450

Loan Approval from the SBA

Of the total $108,450 loan amount, the SBA guaranteed $92,182.

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 9 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Waccamaw Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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