Loan to Buy Subway Sandwich Shop Franchise Issued By Watertown Savings Bank

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

An entrepreneur in Watertown, New York needed money to invest in a Subway Sandwich Shop franchise back in 2004. Watertown Savings Bank issued an SBA franchise loan. Here are the details on this New York small business loan.

SBA Loan Borrower

SUBWAY
WATERTOWN, NY 13601

SBA Loan Lender

WATERTOWN SAVINGS BANK
111 CLINTON ST
WATERTOWN, NY 13601

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/15/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 14 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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