National City Bank Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to buy a Subway Sandwich Shop franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Harrodsburg, Kentucky entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Louisville, Kentucky, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2001. We've got all the details on this Kentucky small business loan.

SBA Loan Borrower

HARRODSBURG SUBWAY INC AND LAW
HARRODSBURG, KY 40330

SBA Loan Lender

NATIONAL CITY BANK
101 S 5TH ST
LOUISVILLE, KY 40202

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/11/2001

Loan Approval Gross Amount

$96,400

Loan Approval from the SBA

Of the total $96,400 loan amount, the SBA guaranteed $81,940.

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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