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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Laredo, Business Loans > Commerce Bank Laredo Business Loans > Subway Loan | ||||
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Texas Small Business Funding for Franchises
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Guthrie, TX Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to buy a Subway Sandwich Shop franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Guthrie, Texas needed money to invest in a Subway Sandwich Shop franchise back in 2006. Commerce Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender COMMERCE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/4/2006 Loan Approval Gross Amount $173,920 Loan Approval from the SBA Of the total $173,920 loan amount, the SBA guaranteed $130,440. 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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $173,920 loan. Remember, where there is a will, there is a way! 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 Approved Banks in Laredo, Texas
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