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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway Sandwich Shop Loan | ||||
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Raising Money in Carthage, New York With SBA Loans
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New York Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseNeed a loan to invest in a Subway Sandwich Shop franchise? Independence Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Carthage, New York needed money to invest in a Subway Sandwich Shop franchise back in 2005. Independence Bank issued an SBA franchise loan. Here are the details on this New York small business loan. SBA Loan Borrower SUBWAY SANDWICH SHOP SBA Loan Lender INDEPENDENCE BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/20/2005 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. 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 15 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Independence 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: SBA Banks in East Greenwich, Rhode Island
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