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May 17, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Lynnwood, Business Loans > City Bank Lynnwood Business Loans > Subway #34880 Loan | ||||
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Washington Small Business Funding for Franchises
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Washington Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseBorrowing money to purchase a Subway Sandwich Shop franchise? City Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Bellevue, Washington and are interested in buying a Subway Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by City Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower SUBWAY #34880 SBA Loan Lender CITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/20/2004 Loan Approval Gross Amount $137,500 Loan Approval from the SBA Of the total $137,500 loan amount, the SBA guaranteed $116,875. 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 7 employees. The loan application indicated that the funding would help create 7 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 for Small Business in Lynnwood, Washington
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