Florida Entrepreneur Secures Financing to Buy Firehouse Subs Franchise

Need money to buy a Firehouse Subs franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

If you live near West Bradenton, Florida and are interested in buying a Firehouse Subs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Banco Popular North America. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FIREHOUSE SUBS
WEST BRADENTON, FL 34207

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This lender provides SBA commercial 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

12/23/2005

Loan Approval Gross Amount

$256,700

Loan Approval from the SBA

Of the total $256,700 loan amount, the SBA guaranteed $192,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Firehouse Subs franchise. At the time of the loan, the company had 64 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 64 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.

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 Banco Popular North America 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.

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