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December 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Subway 31527 Loan | ||||
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Good Banks for Island Lake Franchises
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Fifth Third Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to purchase a Subway Sandwich Shop franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise is doable. In 2005, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Island Lake, Illinois. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY 31527 SBA Loan Lender FIFTH THIRD BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/27/2005 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. 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 10 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: SBA Participating Banks in Grand Rapids, Michigan
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