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May 8, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Amarillo, Business Loans > Herring Bank Amarillo Business Loans > Subway Loan | ||||
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Herring Bank Franchise Loans
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Canyon, TX Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to purchase a Subway Sandwich Shop franchise? Herring Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Canyon, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Herring Bank, based in Amarillo, Texas, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this Texas small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender HERRING BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 1/6/2005 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 6 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Herring Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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:
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