Chevy Chase Bank, F.S.B. Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to buy a Subway Sandwich Shop franchise? Chevy Chase Bank, F.S.B. has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Leesburg, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Chevy Chase Bank, F.S.B., based in Bethesda, Maryland, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2003. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

BIG ERNIE'S, INC. T/A SUBWAY
LEESBURG, VA 20165

SBA Loan Lender

CHEVY CHASE BANK, F.S.B.
7501 WISCONSIN AVE
BETHESDA, MD 20814

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/19/2003

Loan Approval Gross Amount

$642,000

Loan Approval from the SBA

Of the total $642,000 loan amount, the SBA guaranteed $481,500.

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 21 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Subway

Getting a Small Business Loan

SBA 7A Banks in Bethesda, Maryland

SBA Participating Banks in Maryland