Bank Of America Provides SBA Loan to Buy Firehouse Subs Franchise

Borrowing money to buy a Firehouse Subs franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in North Little Rock, Arkansas needed money to invest in a Firehouse Subs franchise back in 2002. Bank Of America issued an SBA franchise loan. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

TLC CREATIONS INC
NORTH LITTLE ROCK, AR 72116

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This SBA small business 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

9/30/2002

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $52,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Firehouse Subs franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 18 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Firehouse Subs

How to Raise Money

Banks in Charlotte, North Carolina

SBA Lenders in North Carolina