Indiana Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

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

An entrepreneur in Evansville, Indiana needed money to invest in a Subway Sandwich Shop franchise back in 2001. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

SUBWAY
EVANSVILLE, IN 47711

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
45 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/10/2001

Loan Approval Gross Amount

$166,500

Loan Approval from the SBA

Of the total $166,500 loan amount, the SBA guaranteed $124,875.

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. This SBA loan request indicated that the loan would help generate 2 new jobs.

Getting an SBA Loan For Your Business

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.

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 $166,500 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.

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