Borrow Money to Buy a Miami Subs formerly Mr Submarine Franchise

Borrowing money to invest in a Miami Subs formerly Mr Submarine franchise? Newtek Small Business Finance Inc. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Miami Subs formerly Mr Submarine franchise requires some effort but others before you have been successful. In 2000, Newtek Small Business Finance Inc. issued an SBA franchise loan to an entrepreneur in Miami, Florida. Because Miami Subs formerly Mr Submarine was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

MIAMI SUBS
MIAMI, FL 33166

SBA Loan Lender

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

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/13/2000

Loan Approval Gross Amount

$330,000

Loan Approval from the SBA

Of the total $330,000 loan amount, the SBA guaranteed $247,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Miami Subs formerly Mr Submarine franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newtek Small Business Finance Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newtek Small Business Finance Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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