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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway Loan | ||||
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Raising Money in New Bedford, Massachusetts With SBA Loans
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Massachusetts Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in New Bedford, Massachusetts needed money to invest in a Subway Sandwich Shop franchise back in 2005. Independence Bank issued an SBA franchise loan. Here are the details on this Massachusetts small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender INDEPENDENCE BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/21/2005 Loan Approval Gross Amount $143,000 Loan Approval from the SBA Of the total $143,000 loan amount, the SBA guaranteed $121,550. More Information on This SBA Loan The borrower borrowed this money for a new 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 did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a business in New Bedford MA, you ought to talk with a local New Bedford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Bedford businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $143,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks for East Greenwich, Rhode Island Loans
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