Tallahasee, FL Entrepreneur Gets SBA Loan to Buy Firehouse Subs Franchise

Borrowing money to purchase a Firehouse Subs franchise? Premier Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Tallahasee, Florida needed money to invest in a Firehouse Subs franchise back in 2002. Premier Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

FIREHOUSE SUBS
TALLAHASEE, FL 32303

SBA Loan Lender

PREMIER BANK
3110 CAPITAL CIRCLE NE
TALLAHASSEE, FL 32308

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

9/9/2002

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 Firehouse Subs franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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:

Firehouse Subs

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Who Lends Money to Small Businesses in Tallahassee, Florida

Getting an SBA Loan in Florida