Sovereign Bank Provides SBA Loan to Buy Jerry's Sub Shop Franchise

Borrowing money to buy a Jerry's Sub Shop franchise? Sovereign Bank has a history of making these loans and they are guaranteed by the SBA.

Jerry's Sub Shop franchise loans are available to Martinsburg, West Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sovereign Bank, based in Newtown, Pennsylvania, issued an SBA franchise loan for a Jerry's Sub Shop franchise in 2005. We've got all the details on this West Virginia small business loan.

SBA Loan Borrower

TRIPLE S SUBS & PIZZA-MBG, INC
MARTINSBURG, WV 25401

SBA Loan Lender

SOVEREIGN BANK
3 TERRY DR
NEWTOWN, PA 18940

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

12/28/2005

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Jerry's Sub Shop franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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SBA Approved Banks in Newtown, Pennsylvania

Getting a Business Loan in Pennsylvania