Borrow Money to Buy a Lenny's Sub Shop Franchise

Need money to invest in a Lenny's Sub Shop franchise? First Tennessee Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Lenny's Sub Shop franchise? If so, here's a 2003 SBA franchise loan that you should know about. First Tennessee Bank was the lender and the entrepreneur was based in Fort Lauderdale, Florida.

SBA Loan Borrower

LENNY'S SUB SHOP
FORT LAUDERDALE, FL 33316

SBA Loan Lender

FIRST TENNESSEE BANK
165 MADISON, 1ST FL
MEMPHIS, TN 38103

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

4/23/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Lenny's Sub Shop franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Lenny's Sub Shop

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Small Business Banks in Memphis, Tennessee

Find an SBA Lender in Tennessee