Loan to Buy Subway Sandwich Shop Franchise Issued By Central Pacific Bank

Borrowing money to buy a Subway Sandwich Shop franchise? Central Pacific Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Subway Sandwich Shop franchise is doable. In 2005, Central Pacific Bank issued an SBA franchise loan to an entrepreneur in Waipahu, Hawaii. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Hawaii small business loan was issued on an expedited basis.

SBA Loan Borrower

TC SUBWAY II, INC
WAIPAHU, HI 96792

SBA Loan Lender

CENTRAL PACIFIC BANK
220 S KING ST
HONOLULU, HI 96813

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/28/2005

Loan Approval Gross Amount

$72,100

Loan Approval from the SBA

Of the total $72,100 loan amount, the SBA guaranteed $61,285.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Central Pacific Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Where to Get an SBA Loan Hawaii