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November 15, 2024 |
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| Home > Small Business Lenders by State > Oklahoma Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Subway Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Bank Of America Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Mcalester, Oklahoma needed money to invest in a Subway Sandwich Shop franchise back in 2003. Bank Of America issued an SBA franchise loan. Here are the details on this Oklahoma small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender BANK OF AMERICA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 1/21/2003 Loan Approval Gross Amount $280,000 Loan Approval from the SBA Of the total $280,000 loan amount, the SBA guaranteed $210,000. 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 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 9 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Obtaining Funding - How to Borrow Money Small Business Banks in Charlotte, North Carolina Getting an SBA Loan in North Carolina
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