Lakeville, MN Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

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

If you live near Lakeville, Minnesota 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 2005 by Community Bank Owatonna. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SUBWAY
LAKEVILLE, MN 55044

SBA Loan Lender

COMMUNITY BANK OWATONNA
640 BRIDGE ST
OWATONNA, MN 55060

The lender provided this loan for a small business 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

10/27/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 50 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Bank Owatonna that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Obtaining Funding - Getting Venture Capital

Small Business Banks in Owatonna, Minnesota

Where to Get an SBA Loan Minnesota