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May 18, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Lynnwood, Business Loans > City Bank Lynnwood Business Loans > Subway #3851 Loan | ||||
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City Bank Small Business Franchise Loan
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Loan to Buy Subway Sandwich Shop Franchise Issued By City BankBorrowing money to purchase a Subway Sandwich Shop franchise? City Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Federal Way, Washington needed money to invest in a Subway Sandwich Shop franchise back in 2003. City Bank issued an SBA franchise loan. Here are the details on this Washington small business loan. SBA Loan Borrower SUBWAY #3851 SBA Loan Lender CITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/28/2003 Loan Approval Gross Amount $146,000 Loan Approval from the SBA Of the total $146,000 loan amount, the SBA guaranteed $124,100. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Federal Way 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:
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