Loan to Buy Subway Sandwich Shop Franchise Issued By Independence Bank
Need a loan to purchase a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Subway Sandwich Shop franchise requires some effort but others before you have been successful. In 2002, Independence Bank issued an SBA franchise loan to an entrepreneur in Springfield, Massachusetts. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.
SBA Loan Borrower
SUBWAY
SPRINGFIELD, MA 01144
SBA Loan Lender
INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818
This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
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
9/19/2002
Loan Approval Gross Amount
$190,000
Loan Approval from the SBA
Of the total $190,000 loan amount, the SBA guaranteed $142,500.
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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $190,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Subway
Small Business Credit Cards
SBA Participating Banks in East Greenwich, Rhode Island
Rhode Island SBA 7A Lenders