Loan to Buy Maid-Rite Sandwich Shop Franchise Issued By 1st Source Bank

Need a loan to invest in a Maid-Rite Sandwich Shop franchise? 1st Source Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Maid-Rite Sandwich Shop franchise? If so, here's a 2007 SBA franchise loan that you should know about. 1st Source Bank was the lender and the entrepreneur was based in Bremen, Indiana.

SBA Loan Borrower

FORTUNES OF INDIANA INC
BREMEN, IN 46506

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

The lender provided this 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

11/21/2007

Loan Approval Gross Amount

$148,000

Loan Approval from the SBA

Of the total $148,000 loan amount, the SBA guaranteed $74,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Maid-Rite Sandwich Shop franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 10 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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Maid-Rite Sandwich Shop

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