Michigan Entrepreneur Secures Financing to Buy Tubby's Sub Shop Franchise

Borrowing money to invest in a Tubby's Sub Shop franchise? Lasalle Bank Midwest has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Tubby's Sub Shop franchise shouldn't be overly burdensome. In 2002, Lasalle Bank Midwest issued an SBA franchise loan to an entrepreneur in Roseville, Michigan. Because Tubby's Sub Shop was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

TUBBY'S SUB SHOP
ROSEVILLE, MI 48066

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/18/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tubby's Sub Shop franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Roseville MI, you ought to talk with a local Roseville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Roseville businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lasalle Bank Midwest and they will explain how you can get an SBA loan for your company.

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:

Tubby's Sub Shops

Advice on Getting a Small Business Loan

Banks in Troy, Michigan

Michigan SBA 7A Lenders