Borrow Money to Buy a Mr. Hero Sandwich Shop Franchise

Borrowing money to invest in a Mr. Hero Sandwich Shop franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Euclid, Ohio needed money to invest in a Mr. Hero Sandwich Shop franchise back in 2001. Jpmorgan Chase Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

P & P CORPORATION
EUCLID, OH 44119

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

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

7/17/2001

Loan Approval Gross Amount

$153,800

Loan Approval from the SBA

Of the total $153,800 loan amount, the SBA guaranteed $115,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Hero Sandwich Shop franchise. At the time of the loan, the company had 19 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find other ways to get money to start a business, 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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