San Diego, CA Entrepreneur Gets SBA Loan to Buy Submarina Sandwiches Franchise

Need money to buy a Submarina Sandwiches franchise? Neighborhood National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Submarina Sandwiches franchise may simply require a phone call to a local SBA banker. In 2001, Neighborhood National Bank issued an SBA franchise loan to an entrepreneur in San Diego, California. Because Submarina Sandwiches was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

SUBMARINA
SAN DIEGO, CA 92111

SBA Loan Lender

NEIGHBORHOOD NATIONAL BANK
3511 NATIONAL AVE
SAN DIEGO, CA 92113

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

711110 - Theater Companies and Dinner Theaters

Loan Approval Date

8/20/2001

Loan Approval Gross Amount

$249,000

Loan Approval from the SBA

Of the total $249,000 loan amount, the SBA guaranteed $186,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Submarina Sandwiches franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $249,000 loan. Remember, things become real when you believe you can achieve them!

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:

Submarina Sandwiches

Determining Proper Capital Structure for a Business

SBA 7A Banks for San Diego, California Loans

Getting an SBA Loan in California