Draper, UT Entrepreneur Gets SBA Loan to Buy New York Subs Franchise

Borrowing money to purchase a New York Subs franchise? Celtic Bank Corporation has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Draper, Utah needed money to invest in a New York Subs franchise back in 2003. Celtic Bank Corporation issued an SBA franchise loan. Here are the details on this Utah small business loan.

SBA Loan Borrower

NEWYORK SUBS
DRAPER, UT 84020

SBA Loan Lender

CELTIC BANK CORPORATION
340 E 400
SALT LAKE CITY, UT 84111

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/25/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a New York Subs franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Celtic Bank Corporation are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

New York Subs Fresh Deli

Obtaining Funding - How to Borrow Money

SBA Banks in Salt Lake City, Utah

SBA Lenders in Utah