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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Rockford, Business Loans > Amcore Bank Rockford Business Loans > Mbla, Inc. Loan | ||||
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Advice for Financing a Franchise
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Illinois Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseNeed money to buy a Subway Sandwich Shop franchise? Amcore Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise requires some effort but others before you have been successful. In 2005, Amcore Bank issued an SBA franchise loan to an entrepreneur in Wheeling, Illinois. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis. SBA Loan Borrower MBLA, INC. SBA Loan Lender AMCORE BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/30/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Amcore Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Accountant's Role in Securing Financing Best Banks for Small Business in Rockford, Illinois
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