Danvers, MA Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Need a loan to buy a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Danvers, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Independence Bank, based in East Greenwich, Rhode Island, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2006. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

DAVID P. COLLINS D/B/A SUBWAY (SOLE PROPRI
Danvers, MA 01923

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2006

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 2 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Danvers MA, you ought to talk with a local Danvers SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Danvers businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $105,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Bank Credit Lines

SBA Participating Banks in East Greenwich, Rhode Island

Getting a Business Loan in Rhode Island