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April 25, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway, Inc. Loan | ||||
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How Much Does It Cost to Buy a Franchise in Hull, Massachusetts?
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Borrow Money to Buy a 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. Want to borrow money to buy a Subway Sandwich Shop franchise? If so, here's a 2004 SBA franchise loan that you should know about. Independence Bank was the lender and the entrepreneur was based in Hull, Massachusetts. SBA Loan Borrower SUBWAY, INC. SBA Loan Lender INDEPENDENCE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/26/2004 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. 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 5 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Banking Deregulation's Effects on Entrepreneurship Best East Greenwich, Rhode Island Banks for Small Business
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