Iowa Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Borrowing money to invest in a Subway Sandwich Shop franchise? United Bank Of Iowa has a history of making these loans and they are guaranteed by the SBA.

If you live near Ida Grove, Iowa and are interested in buying a Subway Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by United Bank Of Iowa. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SUBWAY
IDA GROVE, IA 51445

SBA Loan Lender

UNITED BANK OF IOWA
501 2ND ST
IDA GROVE, IA 51445

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/10/2001

Loan Approval Gross Amount

$92,100

Loan Approval from the SBA

Of the total $92,100 loan amount, the SBA guaranteed $78,285.

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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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