Loan to Buy Subway Sandwich Shop Franchise Issued By Comerica Bank
Borrowing money to invest in a Subway Sandwich Shop franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Subway Sandwich Shop franchise may simply require a phone call to a local SBA banker. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Rancho Cordova, California. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.
SBA Loan Borrower
JASVINDER SANDHU DBA SUBWAY SANDWICHES & S
Rancho Cordova, CA 95670
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
10/17/2007
Loan Approval Gross Amount
$259,500
Loan Approval from the SBA
Of the total $259,500 loan amount, the SBA guaranteed $194,625.
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 5 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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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