Borrow Money to Buy a Sub Shop Franchise

Borrowing money to purchase a Sub Shop franchise? First Tennessee Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sub Shop franchise shouldn't be overly burdensome. In 2002, First Tennessee Bank issued an SBA franchise loan to an entrepreneur in Southaven, Mississippi. Because Sub Shop was registered with the SBA's registry of franchises, this Mississippi small business loan was issued on an expedited basis.

SBA Loan Borrower

LENNY'S SUB SHOP
SOUTHAVEN, MS 38672

SBA Loan Lender

FIRST TENNESSEE BANK
165 MADISON, 1ST FL
MEMPHIS, TN 38103

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/27/2002

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 Sub Shop franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Financing Your Business

SBA Participating Banks in Memphis, Tennessee

Tennessee SBA Banks