Newark, NJ Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise
Borrowing money to purchase a Subway Sandwich Shop franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Subway Sandwich Shop franchise? If so, here's a 2005 SBA franchise loan that you should know about. Valley National Bank was the lender and the entrepreneur was based in Newark, New Jersey.
SBA Loan Borrower
R A SUBWAY STORES INC
NEWARK, NJ 07103
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
3/21/2005
Loan Approval Gross Amount
$193,500
Loan Approval from the SBA
Of the total $193,500 loan amount, the SBA guaranteed $96,750.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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
How to Raise Money
SBA 7A Banks in North Plainfield, New Jersey
Getting a Business Loan in New Jersey