Farmington, UT Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

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

Getting money to buy a Subway Sandwich Shop franchise may simply require a phone call to a local SBA banker. In 2006, Independence Bank issued an SBA franchise loan to an entrepreneur in Farmington, Utah. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Utah small business loan was issued on an expedited basis.

SBA Loan Borrower

DNH, LLC D/B/A SUBWAY
Farmington, UT 84025

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/19/2006

Loan Approval Gross Amount

$237,800

Loan Approval from the SBA

Of the total $237,800 loan amount, the SBA guaranteed $178,350.

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 23 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 23 existing jobs.

Next Steps for Getting an SBA Loan

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

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 Independence 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.

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SBA 7A Banks in East Greenwich, Rhode Island

Rhode Island SBA Banks