Onb Bank And Trust Company Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Borrowing money to invest in 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 2006. We've got all the details on this Oklahoma small business loan.

SBA Loan Borrower

SUBWAY
TULSA, OK 74135

SBA Loan Lender

ONB BANK AND TRUST COMPANY
8908 S YALE AVE, STE 100
TULSA, OK 74137

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/17/2006

Loan Approval Gross Amount

$458,000

Loan Approval from the SBA

Of the total $458,000 loan amount, the SBA guaranteed $389,300.

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 25 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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