Florida Entrepreneur Secures Financing to Buy Obee's Soup Salad Subs Franchise

Need a loan to invest in an Obee's Soup Salad Subs franchise? Charlotte State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Englewood, Florida and are interested in buying an Obee's Soup Salad Subs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Charlotte State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

OBEE'S SOUP-SALAD-SUBS
ENGLEWOOD, FL 34223

SBA Loan Lender

CHARLOTTE STATE BANK
1100 TAMIAMI TRL
PORT CHARLOTTE, FL 33953

This lender issued this particular SBA 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

722110 - Full-Service Restaurants

Loan Approval Date

3/19/2002

Loan Approval Gross Amount

$66,400

Loan Approval from the SBA

Of the total $66,400 loan amount, the SBA guaranteed $56,440.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Obee's Soup Salad Subs franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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