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December 23, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Subway Loan | ||||
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Business Loans for Warwick (rr Name Apponaug) Entrepreneurs
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Bank Of America Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to invest in a Subway Sandwich Shop franchise? Bank Of America 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 2001, Bank Of America issued an SBA franchise loan to an entrepreneur in Warwick (rr Name Apponaug), Rhode Island. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Rhode Island small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY SBA Loan Lender BANK OF AMERICA The lender provided this SBA bank 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 722211 - Limited-Service Restaurants Loan Approval Date 10/17/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you 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. This SBA loan was for $60,000. How would you spend $60,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks in Providence, Rhode Island Where to Get an SBA Loan Rhode Island
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