Choice Financial Group Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to invest in a Subway Sandwich Shop franchise? Choice Financial Group has a history of making these loans and they are guaranteed by the SBA.

If you live near West Fargo, North Dakota and are interested in buying a Subway Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Choice Financial Group. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

JCC ENTRPRISES INC
WEST FARGO, ND 58078

SBA Loan Lender

CHOICE FINANCIAL GROUP
210 SHEYENNE ST
WEST FARGO, ND 58078

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/29/2002

Loan Approval Gross Amount

$148,200

Loan Approval from the SBA

Of the total $148,200 loan amount, the SBA guaranteed $125,970.

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 18 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $148,200 loan. Remember, feel the fear, and do it anyway.

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:

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Getting a Small Business Loan

SBA Banks in West Fargo, North Dakota

SBA Participating Banks in North Dakota