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November 14, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Subway Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Regions Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to invest in a Subway Sandwich Shop franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Noblesville, Indiana needed money to invest in a Subway Sandwich Shop franchise back in 2001. Regions Bank issued an SBA franchise loan. Here are the details on this Indiana small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender REGIONS BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/21/2001 Loan Approval Gross Amount $90,400 Loan Approval from the SBA Of the total $90,400 loan amount, the SBA guaranteed $76,840. 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 7 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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: Best Banks in Memphis, Tennessee
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