Hancock Bank Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Need a loan to invest in a Subway Sandwich Shop franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Picayune, Mississippi entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Hancock Bank, based in Gulfport, Mississippi, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2002. We've got all the details on this Mississippi small business loan.

SBA Loan Borrower

SUBWAY OF PEARL RIVER
PICAYUNE, MS 39466

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/8/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hancock Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Subway

Attracting Investors

Small Business Banks in Gulfport, Mississippi

Mississippi SBA 7A Lenders