Texas Entrepreneur Secures Financing to Buy Schlotzsky's Sandwich Shop Franchise

Need a loan to buy a Schlotzsky's Sandwich Shop franchise? Metrobank has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying a Schlotzsky's Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Metrobank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SCHLOTZSKY'S DELI
HOUSTON, TX 77041

SBA Loan Lender

METROBANK
9600 BELLAIRE BLVD
HOUSTON, TX 77036

This lender provides SBA 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

9/9/2005

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Schlotzsky's Sandwich Shop franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the borrowed money would help generate 15 new jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Metrobank 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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