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May 9, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Hermitage, Business Loans > First National Bank - Pennsylvania Hermitage Business Loans > Dominic J & Connie B Giglio An Loan | ||||
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Loans to Buy a Franchise in Pennsylvania
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Pennsylvania Entrepreneur Secures Financing to Buy Subway Sandwich Shop FranchiseNeed a loan to purchase a Subway Sandwich Shop franchise? First National Bank - Pennsylvania has a history of making these loans and they are guaranteed by the SBA. Subway Sandwich Shop franchise loans are available to Sharpsville, Pennsylvania entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First National Bank - Pennsylvania, based in Hermitage, Pennsylvania, issued an SBA franchise loan for a Subway Sandwich Shop franchise in 2005. We've got all the details on this Pennsylvania small business loan. SBA Loan Borrower DOMINIC J & CONNIE B GIGLIO AN SBA Loan Lender FIRST NATIONAL BANK - PENNSYLVANIA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 722211 - Limited-Service Restaurants Loan Approval Date 3/30/2005 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. 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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 40 new jobs and retain 20 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank - Pennsylvania are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Banks in Hermitage, Pennsylvania
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