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November 21, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway Loan | ||||
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Independence Bank SBA Franchise Loans
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Borrow Money to Buy a Subway Sandwich Shop FranchiseNeed money to purchase a Subway Sandwich Shop franchise? Independence 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, Independence Bank issued an SBA franchise loan to an entrepreneur in Danville, Ohio. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY SBA Loan Lender INDEPENDENCE BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. 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 6/6/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 5 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, things become real when you believe you can achieve them! 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: SBA Participating Banks in East Greenwich, Rhode Island
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