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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Subway Loan | ||||
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National City Bank Small Business Franchise Loan
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National City Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to purchase a Subway Sandwich Shop franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise shouldn't be too tough. In 2002, National City Bank issued an SBA franchise loan to an entrepreneur in Shelby Township, Michigan. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY SBA Loan Lender NATIONAL CITY BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/25/2002 Loan Approval Gross Amount $128,000 Loan Approval from the SBA Of the total $128,000 loan amount, the SBA guaranteed $108,800. 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 application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 $128,000 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: SBA Banks in Indianapolis, Indiana
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