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May 19, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Harrisonburg, Business Loans > United Bank Harrisonburg Business Loans > Subway Restaurant Loan | ||||
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United Bank Small Business Franchise Loan
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Virginia Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? United Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Elkton, Virginia needed money to invest in a Subway Sandwich Shop franchise back in 2006. United Bank issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower SUBWAY RESTAURANT SBA Loan Lender UNITED 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 4/25/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 10 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 10 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA 7A Banks for Harrisonburg, Virginia Loans Find an SBA Lender in Virginia
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