Independence Bank Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Borrowing money to buy 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 shouldn't be too tough. In 2005, Independence Bank issued an SBA franchise loan to an entrepreneur in Greenville, South Carolina. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this South Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

SUBWAY
GREENVILLE, SC 29615

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/24/2005

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

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 only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Independence Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Independence Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Business Line of Credit

Where to Get an SBA Loan in East Greenwich, Rhode Island

Where to Get an SBA Loan Rhode Island