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November 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Subway Loan | ||||
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How to Get SBA Loans in Elkridge (elk Ridge), Maryland
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Elkridge (elk Ridge), MD Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? Branch 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 is doable. In 2003, Branch Bank & Trust issued an SBA franchise loan to an entrepreneur in Elkridge (elk Ridge), Maryland. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Maryland small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY SBA Loan Lender BRANCH BANK & TRUST 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 5/21/2003 Loan Approval Gross Amount $170,000 Loan Approval from the SBA Of the total $170,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Branch Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 7A Banks in Winston Salem, North Carolina
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