Redmond, WA Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to invest in a Subway Sandwich Shop franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

If you live near Redmond, Washington 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 2003 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ARMOUR ENTERPRISES, INC.
REDMOND, WA 98052

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
11101 LA REINA AVE
DOWNEY, CA 90241

This SBA 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/2/2003

Loan Approval Gross Amount

$424,500

Loan Approval from the SBA

Of the total $424,500 loan amount, the SBA guaranteed $318,375.

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 75 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

This SBA loan was for $424,500. How would you spend $424,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

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