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April 26, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Port Huron, Business Loans > Citizens First Savings Bank Port Huron Business Loans > Ballgamy Inc Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Michigan Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseNeed a loan to buy a Subway Sandwich Shop franchise? Citizens First Savings Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise may simply require a phone call to a local SBA banker. In 2006, Citizens First Savings Bank issued an SBA franchise loan to an entrepreneur in Sterling Heights, Michigan. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis. SBA Loan Borrower BALLGAMY INC SBA Loan Lender CITIZENS FIRST SAVINGS BANK The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 9/20/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens First Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: How Much Venture Capital Is There?
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