Alabama Entrepreneur Secures Financing to Buy Subway Sandwich Shop Franchise

Borrowing money to buy a Subway Sandwich Shop franchise? Midsouth Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Subway Sandwich Shop franchise requires some effort but others before you have been successful. In 2001, Midsouth Bank issued an SBA franchise loan to an entrepreneur in Eufaula, Alabama. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Alabama small business loan was issued on an expedited basis.

SBA Loan Borrower

SUBWAY
EUFAULA, AL 36072

SBA Loan Lender

MIDSOUTH BANK
242 E BARBOUR ST
EUFAULA, AL 36027

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/27/2001

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 60 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This SBA loan was for $105,000. How would you spend $105,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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