Borrow Money to Buy a Subway Sandwich Shop Franchise
Borrowing money to buy a Subway Sandwich Shop franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Subway Sandwich Shop franchise shouldn't be overly burdensome. In 2000, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Fresno, California. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.
SBA Loan Borrower
SUBWAY SANDWICHES & SALADS # 7
FRESNO, CA 93710
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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.
SIC Code
5812 - Eating Places
Loan Approval Date
9/21/2000
Loan Approval Gross Amount
$72,500
Loan Approval from the SBA
Of the total $72,500 loan amount, the SBA guaranteed $58,000.
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 5 employees. The loan application indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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 Wells Fargo Bank 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:
Subway
Borrowing Money from Friends and Family
SBA 7A Banks in San Jose, California
SBA Lenders in California