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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Chevy Chase, Business Loans > Chevy Chase Bank, F.S.B. Chevy Chase Business Loans > Subway Loan | ||||
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Where to Get an SBA Loan to Purchase a Franchise
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Chevy Chase Bank, F.S.B. Provides SBA Loan to Buy Subway Sandwich Shop FranchiseBorrowing money to buy a Subway Sandwich Shop franchise? Chevy Chase Bank, F.S.B. has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Subway Sandwich Shop franchise is doable. In 2002, Chevy Chase Bank, F.S.B. issued an SBA franchise loan to an entrepreneur in Sterling, Virginia. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY SBA Loan Lender CHEVY CHASE BANK, F.S.B. This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. 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 1/30/2002 Loan Approval Gross Amount $390,000 Loan Approval from the SBA Of the total $390,000 loan amount, the SBA guaranteed $292,500. 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 60 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Where to Get an SBA Loan in Chevy Chase, Maryland Find an SBA Lender in Maryland
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