Ohio Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Borrowing money to invest in a Subway Sandwich Shop franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Solon, Ohio and are interested in buying a Subway Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by National City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SA2 INC.
Solon, OH 44139

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/6/2004

Loan Approval Gross Amount

$171,000

Loan Approval from the SBA

Of the total $171,000 loan amount, the SBA guaranteed $85,500.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.

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

Borrowing Money from Friends and Family

Small Business Banks in Cleveland, Ohio

Ohio SBA 7A Lenders