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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Subway #34951 Loan | ||||
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Raising Money in St. Paul, Minnesota With SBA Loans
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Borrow Money to Buy a Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? Park Midway Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to St. Paul, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Park Midway Bank, based in Saint Paul, Minnesota, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this Minnesota small business loan. SBA Loan Borrower SUBWAY #34951 SBA Loan Lender PARK MIDWAY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/5/2005 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 18 existing jobs. Next Steps for Getting an SBA Loan 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Park Midway Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Park Midway Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Saint Paul, Minnesota SBA Participating Banks in Minnesota
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