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May 19, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Glasgow, Business Loans > Edmonton State Bank Glasgow Business Loans > Raymax Enterprises, Inc. Loan | ||||
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Loans to Buy a Franchise in Kentucky
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Kentucky Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseBorrowing money to invest in a Subway Sandwich Shop franchise? Edmonton State Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Glasgow, Kentucky needed money to invest in a Subway Sandwich Shop franchise back in 2006. Edmonton State Bank issued an SBA franchise loan. Here are the details on this Kentucky small business loan. SBA Loan Borrower RAYMAX ENTERPRISES, INC. SBA Loan Lender EDMONTON STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/24/2006 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Subway Sandwich Shop franchise. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Edmonton State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Approved Banks in Glasgow, Kentucky
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