Borrow Money to Buy a Subway Sandwich Shop Franchise

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

Want to borrow money to buy a Subway Sandwich Shop franchise? If so, here's a 2005 SBA franchise loan that you should know about. Illinois National Bank was the lender and the entrepreneur was based in Chatham, Illinois.

SBA Loan Borrower

VCM, INC.
CHATHAM, IL 62629

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

This loan for a small business was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/23/2005

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $108,000.

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 150 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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