Texas Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

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

Subway Sandwich Shop franchise loans are available to Lubbock, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American State Bank, based in Lubbock, Texas, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this Texas small business loan.

SBA Loan Borrower

BUSINESS HAVEN INC
LUBBOCK, TX 79423

SBA Loan Lender

AMERICAN STATE BANK
1401 AVE 'Q'
LUBBOCK, TX 79401

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

4/12/2005

Loan Approval Gross Amount

$310,000

Loan Approval from the SBA

Of the total $310,000 loan amount, the SBA guaranteed $232,500.

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 135 employees. The loan application indicated that the loan would help retain 135 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American State Bank 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 - How to Decide How Much to Raise

Good Banks for Small Business in Lubbock, Texas

Find an SBA Lender in Texas