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May 17, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Watertown, Business Loans > Great Western Bank Watertown Business Loans > Subway Of Webster Loan | ||||
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Webster, South Dakota Bank Loan
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Loan to Buy Subway Sandwich Shop Franchise Issued By Great Western BankNeed a loan to purchase a Subway Sandwich Shop franchise? Great Western 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 2004, Great Western Bank issued an SBA franchise loan to an entrepreneur in Webster, South Dakota. Because Subway Sandwich Shop was registered with the SBA's registry of franchises, this South Dakota small business loan was issued on an expedited basis. SBA Loan Borrower SUBWAY OF WEBSTER SBA Loan Lender GREAT WESTERN BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 6/24/2004 Loan Approval Gross Amount $127,500 Loan Approval from the SBA Of the total $127,500 loan amount, the SBA guaranteed $108,375. 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 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $127,500 loan. Remember, you control your own destiny. 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: Accountant's Role in Securing Financing Where to Get an SBA Loan in Watertown, South Dakota
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