Mitchell, IN Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to invest in a Subway Sandwich Shop franchise? The Huntington National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Mitchell, Indiana needed money to invest in a Subway Sandwich Shop franchise back in 2001. The Huntington National Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan.

SBA Loan Borrower

MITCHELL SUBWAY
MITCHELL, IN 47446

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
45 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/2/2001

Loan Approval Gross Amount

$77,400

Loan Approval from the SBA

Of the total $77,400 loan amount, the SBA guaranteed $65,790.

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 10 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The Huntington National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

A Company That Helps Entrepreneurs

Best Banks in Indianapolis, Indiana

Indiana SBA 7A Lenders