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May 18, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Chicago, Business Loans > Shorebank Chicago Business Loans > Subway Loan | ||||
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Tips for Getting a Franchise Loan
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Borrow Money to Buy a Subway Sandwich Shop FranchiseBorrowing money to invest in a Subway Sandwich Shop franchise? Shorebank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Elm Estates, Illinois needed money to invest in a Subway Sandwich Shop franchise back in 2000. Shorebank issued an SBA franchise loan. Here are the details on this Illinois small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender SHOREBANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 7/20/2000 Loan Approval Gross Amount $191,000 Loan Approval from the SBA Of the total $191,000 loan amount, the SBA guaranteed $143,250. 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 only one employee. The loan application indicated that the loan would help generate 7 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We can help you find the best banks for small businesses in Elm Estates 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: Determining Proper Capital Structure for a Business Small Bank Loans in Chicago, Illinois
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