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November 22, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Lasalle Bank Chicago Business Loans > Subway Restaurant Loan | ||||
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Lasalle Bank Franchise Loans
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Chicago, IL Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? Lasalle Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise shouldn't be too tough. In 2003, Lasalle Bank issued an SBA franchise loan to an entrepreneur in Chicago, Illinois. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY RESTAURANT SBA Loan Lender LASALLE BANK This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a deep knowledge SBA policies and procedures. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/20/2003 Loan Approval Gross Amount $168,000 Loan Approval from the SBA Of the total $168,000 loan amount, the SBA guaranteed $126,000. 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 24 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Chicago, Illinois
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