Fifth Third Bank Provides SBA Loan to Buy Subway Sandwich Shop Franchise

Need money to invest in a Subway Sandwich Shop franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Subway Sandwich Shop franchise loans are available to Jasper, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fifth Third Bank, based in Evansville, Indiana, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this Indiana small business loan.

SBA Loan Borrower

SUBWAY
JASPER, IN 47546

SBA Loan Lender

FIFTH THIRD BANK
20 NW THIRD ST
EVANSVILLE, IN 47708

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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

722110 - Full-Service Restaurants

Loan Approval Date

6/22/2005

Loan Approval Gross Amount

$102,800

Loan Approval from the SBA

Of the total $102,800 loan amount, the SBA guaranteed $87,380.

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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Jasper IN, you ought to talk with a local Jasper SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jasper businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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