United Community Bank Provides SBA Loan to Buy Obee's Soup Salad Subs Franchise

Need money to invest in an Obee's Soup Salad Subs franchise? United Community Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Obee's Soup Salad Subs franchise shouldn't be too tough. In 2003, United Community Bank issued an SBA franchise loan to an entrepreneur in Richardson, Texas. Because Obee's Soup Salad Subs was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

OBEE'S SOUP SALAD AND SUBS
RICHARDSON, TX 75082

SBA Loan Lender

UNITED COMMUNITY BANK
2100 FM 407
HIGHLAND VILLAGE, TX 75077

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/10/2003

Loan Approval Gross Amount

$255,000

Loan Approval from the SBA

Of the total $255,000 loan amount, the SBA guaranteed $191,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Obee's Soup Salad Subs franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Famous Venture Capitalists

Small Bank Loans in Highland Village, Texas

Getting an SBA Loan in Texas