Hackensack, NJ Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Need a loan to buy a Subway Sandwich Shop franchise? 1st Constitution 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 2004, 1st Constitution Bank issued an SBA franchise loan to an entrepreneur in Hackensack, New Jersey. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

SUBWAY
HACKENSACK, NJ 07601

SBA Loan Lender

1ST CONSTITUTION BANK
RTE 130 & DEY RD
CRANBURY, NJ 08512

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/19/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from 1st Constitution Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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