Bank Of America Provides SBA Loan to Buy Subway Sandwich Shop Franchise

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

Subway Sandwich Shop franchise loans are available to Harrisburg, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank Of America, based in Providence, Rhode Island, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2002. We've got all the details on this Pennsylvania small business loan.

SBA Loan Borrower

SUBWAY
HARRISBURG, PA 17111

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/30/2002

Loan Approval Gross Amount

$55,100

Loan Approval from the SBA

Of the total $55,100 loan amount, the SBA guaranteed $27,550.

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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Subway

Small Business Loan

Banks in Providence, Rhode Island

SBA Participating Banks in Rhode Island