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May 5, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Lynnwood, Business Loans > City Bank Lynnwood Business Loans > Subway #22451 Loan | ||||
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Business Loans for Seattle Business Owners
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Borrow Money to Buy a Subway Sandwich Shop FranchiseNeed a loan to invest in a Subway Sandwich Shop franchise? City Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise shouldn't be too tough. In 2007, City Bank issued an SBA franchise loan to an entrepreneur in Seattle, Washington. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Washington small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY #22451 SBA Loan Lender CITY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 1/4/2007 Loan Approval Gross Amount $129,000 Loan Approval from the SBA Of the total $129,000 loan amount, the SBA guaranteed $109,650. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks in Lynnwood, Washington
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