Valley National Bank Provides SBA Loan to Buy Jreck Subs Franchise
Borrowing money to invest in a Jreck Subs franchise? Valley National Bank has a history of making these loans and they are guaranteed by the SBA.
Want to borrow money to buy a Jreck Subs franchise? If so, here's a 2002 SBA franchise loan that you should know about. Valley National Bank was the lender and the entrepreneur was based in Weedsport, New York.
SBA Loan Borrower
JRECK SUBS
WEEDSPORT, NY 13166
SBA Loan Lender
VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060
This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
12/31/2002
Loan Approval Gross Amount
$122,000
Loan Approval from the SBA
Of the total $122,000 loan amount, the SBA guaranteed $103,700.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Jreck Subs franchise. At the time of the loan, the company
had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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 $122,000 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.
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