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May 17, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > East Greenwich, Business Loans > Independence Bank East Greenwich Business Loans > Subway Loan | ||||
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SBA Franchise Financing Lender Tonawanda New York
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Tonawanda, NY Entrepreneur Gets SBA Loan to Buy Subway Sandwich Shop FranchiseNeed money to buy a Subway Sandwich Shop franchise? Independence 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 2004 SBA franchise loan that you should know about. Independence Bank was the lender and the entrepreneur was based in Tonawanda, New York. SBA Loan Borrower SUBWAY SBA Loan Lender INDEPENDENCE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/23/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 5 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start business in Tonawanda NY, you ought to talk with a local Tonawanda SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tonawanda businesses. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Realistic Debt Financing Options Good Banks for Small Business in East Greenwich, Rhode Island
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