Loan to Buy Subway Sandwich Shop Franchise Issued By Community Bank

Need money to purchase a Subway Sandwich Shop franchise? Community 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 2004, Community Bank issued an SBA franchise loan to an entrepreneur in Watkins Glen, New York. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

SUBWAY OF WATKINS GLEN (HENNA
WATKINS GLEN, NY 14891

SBA Loan Lender

COMMUNITY BANK
830 COUNTY RTE 64
ELMIRA, NY 14903

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/12/2004

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $58,650.

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 10 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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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