Bank Of Akron Provides SBA Loan to Buy Subway Sandwich Shop Franchise

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

Subway Sandwich Shop franchise loans are available to Cheektowaga, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of Akron, based in Akron, New York, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2002. We've got all the details on this New York small business loan.

SBA Loan Borrower

RKR SUBS, INC.
CHEEKTOWAGA, NY 14225

SBA Loan Lender

BANK OF AKRON
46 MAIN ST
AKRON, NY 14001

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/27/2002

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

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 11 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Cheektowaga NY, you ought to talk with a local Cheektowaga SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cheektowaga businesses.

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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