Panama City, FL Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Need a loan to buy a Subway Sandwich Shop franchise? Peoples First Community Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Panama City, Florida and are interested in buying a Subway Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Peoples First Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

WALKER & SON SUBWAY, INC.
PANAMA CITY, FL 32405

SBA Loan Lender

PEOPLES FIRST COMMUNITY BANK
1022 W 23RD ST
PANAMA CITY, FL 32405

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/17/2002

Loan Approval Gross Amount

$323,100

Loan Approval from the SBA

Of the total $323,100 loan amount, the SBA guaranteed $242,325.

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 40 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees 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.

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.

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