Wachovia Bank Provides SBA Loan to Buy Subway Sandwich Shop Franchise

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

Getting money to buy a Subway Sandwich Shop franchise shouldn't be too tough. In 2005, Wachovia Bank issued an SBA franchise loan to an entrepreneur in Trinity, North Carolina. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

BOLAND-GADD, INC.
TRINITY, NC 27370

SBA Loan Lender

WACHOVIA BANK
301 S COLLEGE ST MAIN LOBBY
CHARLOTTE, NC 28202

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

4/1/2005

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $65,000.

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. This SBA loan request indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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