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May 9, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Subway Loan | ||||
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How Can I Buy a Franchise in Laingsburg, Michigan?
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Michigan Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseBorrowing money to invest in a Subway Sandwich Shop franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Subway Sandwich Shop franchise? If so, here's a 2001 SBA franchise loan that you should know about. Fifth Third Bank was the lender and the entrepreneur was based in Laingsburg, Michigan. SBA Loan Borrower SUBWAY SBA Loan Lender FIFTH THIRD BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 12/28/2001 Loan Approval Gross Amount $98,500 Loan Approval from the SBA Of the total $98,500 loan amount, the SBA guaranteed $83,725. 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 10 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - Friends and Family Small Bank Loans in Grand Rapids, Michigan
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