Loan to Buy Subway Sandwich Shop Franchise Issued By Heartland Bank & Trust

Need money to buy a Subway Sandwich Shop franchise? Heartland Bank & Trust 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 overly burdensome. In 2007, Heartland Bank & Trust issued an SBA franchise loan to an entrepreneur in Chillicothe, 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

METRO RAIL, INC.
Chillicothe, IL 61523

SBA Loan Lender

HEARTLAND BANK & TRUST
401 N HERSHEY RD
BLOOMINGTON, IL 61704

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/10/2007

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $72,500.

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 76 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 82 existing jobs.

Next Steps for Getting an SBA Loan

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

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Heartland Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Subway

How to Raise Money

Find an SBA Lender in Bloomington, Illinois

SBA Participating Banks in Illinois