Washington Entrepreneur Secures Financing to Buy Port Of Subs Franchise

Need money to purchase a Port Of Subs franchise? Keybank National Association has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Port Of Subs franchise? If so, here's a 2001 SBA franchise loan that you should know about. Keybank National Association was the lender and the entrepreneur was based in Tumwater, Washington.

SBA Loan Borrower

PORT OF SUBS
TUMWATER, WA 98501

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

The lender provided this business 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

722310 - Food Service Contractors

Loan Approval Date

10/19/2001

Loan Approval Gross Amount

$121,500

Loan Approval from the SBA

Of the total $121,500 loan amount, the SBA guaranteed $60,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Port Of Subs franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

Related Links:

Port of Subs, Inc.

Business Incubators

Good Banks for Small Business in Cleveland, Ohio

Getting a Business Loan in Ohio