Southside Bank Provides SBA Loan to Buy Jersey Mike's deli Restaurant Franchise

Need money to purchase a Jersey Mike's deli Restaurant franchise? Southside Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Tyler, Texas and are interested in buying a Jersey Mike's deli Restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Southside Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

JERSEY MIKE'S SUBS
TYLER, TX 75701

SBA Loan Lender

SOUTHSIDE BANK
1201 S BECKHAM
TYLER, TX 75701

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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

8/26/2003

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 Jersey Mike's deli Restaurant franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Jersey Mike's Submarines & Salads

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Best Tyler, Texas Banks for Small Business

SBA Lenders in Texas