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December 22, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Saint Louis, Business Loans > National City Bank Saint Louis Business Loans > Subway Loan | ||||
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Missouri Small Business Funding for Franchises
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Odessa, MO Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to buy a Subway Sandwich Shop franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Odessa, Missouri needed money to invest in a Subway Sandwich Shop franchise back in 2004. National City Bank issued an SBA franchise loan. Here are the details on this Missouri small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender NATIONAL CITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/20/2004 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 5 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $120,000 loan. Remember, fight for what you want, and it will be yours! 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: Advice on Getting a Small Business Loan Best Saint Louis, Missouri Banks for Small Business
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