First Bank And Trust Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to invest in a Subway Sandwich Shop franchise? First Bank And Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Chalmette, Louisiana needed money to invest in a Subway Sandwich Shop franchise back in 2004. First Bank And Trust issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

SUBWAY
CHALMETTE, LA 70043

SBA Loan Lender

FIRST BANK AND TRUST
3417 WILLIAMS BLVD
KENNER, LA 70065

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

4/8/2004

Loan Approval Gross Amount

$96,000

Loan Approval from the SBA

Of the total $96,000 loan amount, the SBA guaranteed $81,600.

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 15 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank And Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank And Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA Participating Banks in Kenner, Louisiana

Louisiana SBA 7A Lenders