Loan to Buy Subway Sandwich Shop Franchise Issued By Jpmorgan Chase Bank
Need money to invest in a Subway Sandwich Shop franchise? Jpmorgan Chase Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Indianapolis, Indiana needed money to invest in a Subway Sandwich Shop franchise back in 2004. Jpmorgan Chase Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.
SBA Loan Borrower
JADE FOOD CORPORATION
INDIANAPOLIS, IN 46240
SBA Loan Lender
JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002
This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
9/27/2004
Loan Approval Gross Amount
$132,000
Loan Approval from the SBA
Of the total $132,000 loan amount, the SBA guaranteed $66,000.
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 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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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