Loan to Buy Jersey Mike's deli Restaurant Franchise Issued By Newtek Small Business Finance Inc.

Need money to buy a Jersey Mike's deli Restaurant franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Jersey Mike's deli Restaurant franchise? If so, here's a 2003 SBA franchise loan that you should know about. Newtek Small Business Finance Inc. was the lender and the entrepreneur was based in Mechanicsburg, Pennsylvania.

SBA Loan Borrower

JERSEY MIKE'S SUBS
MECHANICSBURG, PA 17050

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

7/30/2003

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $31,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jersey Mike's deli Restaurant franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $62,000 loan. Remember, things become real when you believe you can achieve them!

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.

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