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November 21, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Subway #27238 Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Seattle, WA Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Seattle, Washington needed money to invest in a Subway Sandwich Shop franchise back in 2002. Bank Of America issued an SBA franchise loan. Here are the details on this Washington small business loan. SBA Loan Borrower SUBWAY #27238 SBA Loan Lender BANK OF AMERICA 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 9/26/2002 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $86,250. 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 32 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 37 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: SBA Approved Banks in Charlotte, North Carolina
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