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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Webster Bank Providence Business Loans > Subway Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Webster Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to purchase a Subway Sandwich Shop franchise? Webster Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Somerset, Massachusetts needed money to invest in a Subway Sandwich Shop franchise back in 2003. Webster Bank issued an SBA franchise loan. Here are the details on this Massachusetts small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender WEBSTER BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/5/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 Providence, Rhode Island Where to Get an SBA Loan Rhode Island
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