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May 11, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > One Stop Food 'N' Shop Loan | ||||
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Elkhart, Indiana Bank for SBA Loans
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Elkhart, IN Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed a loan to purchase a Subway Sandwich Shop franchise? 1st Source 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 overly burdensome. In 2003, 1st Source Bank issued an SBA franchise loan to an entrepreneur in Elkhart, Indiana. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Indiana small business loan was issued on an expedited basis. SBA Loan Borrower ONE STOP FOOD 'N' SHOP SBA Loan Lender 1ST SOURCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 445120 - Convenience Stores Loan Approval Date 7/16/2003 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Elkhart or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Where to Get an SBA Loan Indiana
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