Ridgewood, NY Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise
Borrowing money to purchase a Subway Sandwich Shop franchise? Flushing Savings Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.
Subway Sandwich Shop franchise loans are available to Ridgewood, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Flushing Savings Bank, Fsb, based in New York City, New York, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2003. We've got all the details on this New York small business loan.
SBA Loan Borrower
SUBWAY
RIDGEWOOD, NY 11385
SBA Loan Lender
FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
10/9/2003
Loan Approval Gross Amount
$140,000
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $119,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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
Business Credit Evaluation
Who Lends Money to Small Businesses in New York City, New York
New York SBA Bank Lenders