Borrow Money to Buy a Subway Sandwich Shop Franchise

Borrowing money to purchase a Subway Sandwich Shop franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Subway Sandwich Shop franchise shouldn't be too tough. In 2002, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Chicago, 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

SUBWAY
CHICAGO, IL 60618

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
4801 W FULLERTON AVE
CHICAGO, IL 60639

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/23/2002

Loan Approval Gross Amount

$122,600

Loan Approval from the SBA

Of the total $122,600 loan amount, the SBA guaranteed $104,210.

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 SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Chicago IL, you ought to talk with a local Chicago SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chicago businesses.

We can help you find the best banks for small businesses in Chicago or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Subway

Strategic Investors

SBA Banks in Chicago, Illinois

Getting an SBA Loan in Illinois