Rhode Island Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

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

Subway Sandwich Shop franchise loans are available to Johnston, Rhode Island entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Newalliance Bank, based in Mansfield, Connecticut, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2000. We've got all the details on this Rhode Island small business loan.

SBA Loan Borrower

SUBWAY
JOHNSTON, RI 02919

SBA Loan Lender

NEWALLIANCE BANK
6 STORRS RD
MANSFIELD, CT 06250

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.

SIC Code

5812 - Eating Places

Loan Approval Date

9/20/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 5 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Newalliance Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Subway

Determining Proper Capital Structure for a Business

SBA Participating Banks in Mansfield, Connecticut

Connecticut SBA 7A Lenders