Tulsa, OK Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to purchase a Subway Sandwich Shop franchise? Onb Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Tulsa, Oklahoma entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Onb Bank And Trust Company, based in Tulsa, Oklahoma, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2001. We've got all the details on this Oklahoma small business loan.

SBA Loan Borrower

SUBWAY SANDWICH
TULSA, OK 74105

SBA Loan Lender

ONB BANK AND TRUST COMPANY
9004 EAST 61ST ST, SOUTH
TULSA, OK 74133

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/26/2001

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 20 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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Onb Bank And Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Find Start-Up Capital

SBA Banks in Tulsa, Oklahoma

SBA Lenders in Oklahoma