California Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Need a loan to invest in a Subway Sandwich Shop franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to San Lorenzo, California entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this California small business loan.

SBA Loan Borrower

SUBWAY SANDWICHES AND SALADS
SAN LORENZO, CA 94580

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/28/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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