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May 4, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Louisville, Business Loans > Commonwealth Bank & Trust Louisville Business Loans > Subway #3350 Loan | ||||
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Advice for Getting a Franchise Loan
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Indiana Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? Commonwealth Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in New Albany, Indiana needed money to invest in a Subway Sandwich Shop franchise back in 2007. Commonwealth Bank & Trust issued an SBA franchise loan. Here are the details on this Indiana small business loan. SBA Loan Borrower SUBWAY #3350 SBA Loan Lender COMMONWEALTH BANK & TRUST The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/5/2007 Loan Approval Gross Amount $152,000 Loan Approval from the SBA Of the total $152,000 loan amount, the SBA guaranteed $123,250. 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. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commonwealth Bank & Trust 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. Related Links: Raising VC Money for Social Networking Companies SBA Participating Banks in Louisville, Kentucky
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