Commerce Bank Provides SBA Loan to Buy Slack's Hoagie Shack Franchise

Borrowing money to buy a Slack's Hoagie Shack franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Slack's Hoagie Shack franchise shouldn't be overly burdensome. In 2004, Commerce Bank issued an SBA franchise loan to an entrepreneur in Sewell, New Jersey. Because Slack's Hoagie Shack was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

SLACK'S HOAGIE SHACK
SEWELL, NJ 08080

SBA Loan Lender

COMMERCE BANK
2005 MARKET ST
PHILADELPHIA, PA 19103

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/28/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Slack's Hoagie Shack franchise. At the time of the loan, the company had 11 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commerce Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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