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January 21, 2025 |
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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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How to Get SBA Loans in North Reading, Massachusetts
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North Reading, MA Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to invest in a Subway Sandwich Shop franchise? Independence 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 2003 SBA franchise loan that you should know about. Independence Bank was the lender and the entrepreneur was based in North Reading, Massachusetts. SBA Loan Borrower SUBWAY SBA Loan Lender INDEPENDENCE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/11/2003 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in North Reading or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Approved Banks in East Greenwich, Rhode Island
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