Loan to Buy Subway Sandwich Shop Franchise Issued By Seacoast Commerce Bank

Need money to purchase a Subway Sandwich Shop franchise? Seacoast Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to El Cajon, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Seacoast Commerce Bank, based in Chula Vista, California, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2007. We've got all the details on this California small business loan.

SBA Loan Borrower

SUBWAY #32859
EL CAJON, CA 92020

SBA Loan Lender

SEACOAST COMMERCE BANK
678 3RD AVE, STE 101
CHULA VISTA, CA 91910

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/28/2007

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Seacoast Commerce Bank 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:

Subway

Determining Proper Capital Structure for a Business

Good Banks for Small Business in Chula Vista, California

California SBA Banks