Loan to Buy Subway Sandwich Shop Franchise Issued By The Huntington National Bank

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

An entrepreneur in Laura, Ohio needed money to invest in a Subway Sandwich Shop franchise back in 2003. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan.

SBA Loan Borrower

EYLER SUBWAY INC
LAURA, OH 45337

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

This lender processed this SBA business 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

722110 - Full-Service Restaurants

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$101,000

Loan Approval from the SBA

Of the total $101,000 loan amount, the SBA guaranteed $50,500.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Huntington National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Banks in Columbus, Ohio

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