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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway Loan | ||||
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I Need Commercial Loans to Buy a Franchise in Fresno, California
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Independence Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to invest in a Subway Sandwich Shop franchise? Independence Bank 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 2003, Independence Bank issued an SBA franchise loan to an entrepreneur in Fresno, California. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY SBA Loan Lender INDEPENDENCE BANK 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 9/22/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - Getting Venture Capital Best Banks in East Greenwich, Rhode Island
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