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May 19, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Buffalo Grove, Business Loans > American Enterprise Bank Buffalo Grove Business Loans > Veggie Sub Corporation Loan | ||||
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Loans to Buy a Franchise in Indiana
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Borrow Money to Buy a Subway Sandwich Shop FranchiseNeed money to invest in a Subway Sandwich Shop franchise? American Enterprise Bank has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Portage, Indiana entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, American Enterprise Bank, based in Buffalo Grove, Illinois, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2006. We've got all the details on this Indiana small business loan. SBA Loan Borrower VEGGIE SUB CORPORATION SBA Loan Lender AMERICAN ENTERPRISE BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/2/2006 Loan Approval Gross Amount $850,300 Loan Approval from the SBA Of the total $850,300 loan amount, the SBA guaranteed $637,725. 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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA 7A Lenders in Buffalo Grove, Illinois Getting a Business Loan in Illinois
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