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November 15, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Independence Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Rochester, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Independence Bank, based in East Greenwich, Rhode Island, 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 SBA Loan Lender INDEPENDENCE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 4/10/2003 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 5 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Independence Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Independence Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Realistic Debt Financing Options Banks in East Greenwich, Rhode Island Getting a Business Loan in Rhode Island
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