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December 19, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Elk Grove Village, Business Loans > First American Bank Elk Grove Village Business Loans > Subway Loan | ||||
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Advice for Borrowing Money to Buy a Franchise
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Borrow Money to Buy a Subway Sandwich Shop FranchiseNeed money to invest in a Subway Sandwich Shop franchise? First American Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Chicago, Illinois entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First American Bank, based in Elk Grove Village, Illinois, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this Illinois small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender FIRST AMERICAN BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/11/2005 Loan Approval Gross Amount $128,000 Loan Approval from the SBA Of the total $128,000 loan amount, the SBA guaranteed $108,800. 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 8 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Determining Proper Capital Structure for a Business Small Bank Loans in Elk Grove Village, Illinois
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