Kingston, RI Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

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

Getting money to buy a Subway Sandwich Shop franchise requires some effort but others before you have been successful. In 2002, Bank Of America issued an SBA franchise loan to an entrepreneur in Kingston, Rhode Island. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Rhode Island small business loan was issued on an expedited basis.

SBA Loan Borrower

NEL-SAN COMPANY CO
KINGSTON, RI 02881

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

12/5/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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

How to Raise Money

Where to Get an SBA Loan in Providence, Rhode Island

Rhode Island SBA 7A Banks