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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Subway Loan | ||||
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Banks for Farmingdale, New York Entrepreneurs
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Commerce Bank Provides SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to purchase a Subway Sandwich Shop franchise? Commerce Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Farmingdale, New York entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Commerce Bank, based in Philadelphia, Pennsylvania, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2002. We've got all the details on this New York small business loan. SBA Loan Borrower SUBWAY SBA Loan Lender COMMERCE BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/22/2002 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 an existing business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Philadelphia, Pennsylvania
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