Virginia Beach, VA Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop Franchise
Need a loan to invest in a Subway Sandwich Shop franchise? Suntrust Bank has a history of making these loans and they are guaranteed by the SBA.
If you live near Virginia Beach, Virginia and are interested in buying a Subway Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Suntrust Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.
SBA Loan Borrower
SUBWAY OF PEMBROKE INC
VIRGINIA BEACH, VA 23452
SBA Loan Lender
SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
6/2/2004
Loan Approval Gross Amount
$90,000
Loan Approval from the SBA
Of the total $90,000 loan amount, the SBA guaranteed $45,000.
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 8 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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
Role of Business Plan When Raising Money
Find an SBA Lender in Atlanta, Georgia
SBA Participating Banks in Georgia