Borrow Money to Buy a Subway Sandwich Shop Franchise
Borrowing money to invest in a Subway Sandwich Shop franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Subway Sandwich Shop franchise? If so, here's a 2003 SBA franchise loan that you should know about. Commerce Bank was the lender and the entrepreneur was based in Logan Township, New Jersey.
SBA Loan Borrower
SUBWAY
LOGAN TOWNSHIP, NJ 08085
SBA Loan Lender
COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
5/21/2003
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 only one employee. The SBA loan documents indicated that the loan would help generate 11 new jobs and retain 12 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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
Financing Your Business
Where to Get an SBA Loan in Philadelphia, Pennsylvania
Pennsylvania SBA 7A Lenders