Food & Restaurants · lender intelligence

How to finance a Subway in Minnesota

State:

The SBA 7(a) lenders funding the most Subway deals in Minnesota, from public loan records — typical Subway loan about $210K. A bank already funding the brand in your state knows it twice over.

Deal economics— what it takes to buy & finance Subway in Minnesota

$233K

Typical loan

range $93K–$912K

$259K

Est. purchase price

≈ loan ÷ 90%

$34,597

Cash to close

$25,867 down + fees

$3,408/mo

Typical payment

~12.5% · 10yr

$47,030/yr

Cash flow to qualify

≈ payment × 1.15 DSCR

15 days

Typical time to fund

Lenders competing

more = leverage

6.9%

Avg rate on record

cap ~9.75%

Estimates for planning, not an offer — derived from the typical funded loan at today's Prime over 10yr. Not a credit decision.

Most active with Subway in Minnesota

Ranked by funded Subway loans in Minnesota. Tap a lender for its full record, or hit Get in touch for an introduction.

1.46 loans · $27M · Sartell, MNFull record →
2.116 loans · $120M · Evansville, INFull record →
3.2 loans · $0M · Hutchinson, MNFull record →
4.1 loans · $0M · Bloomington, MNFull record →
5.1,025 loans · $292M · Berkeley Heights, NJFull record →
6.318 loans · $229M · Osage Beach, MOFull record →
7.4 loans · $3M · Saint Paul, MNFull record →

15+ funded Subway in Minnesota deals

Real SBA 7(a) acquisitions from public records — see who got funded, for how much, and by which lender. Tap any deal for the full record.

Subway in Minneapolis, MN — $912K (2025) · First Bank of the Lake
Program
Preferred Lenders Program
Rate at approval
9.5% variable
Term
120 mo (10 yrs)
SBA guaranteed
$684K (75%)
Approval → funding
52 days
Approved
2/2/2025
First disbursed
3/26/2025
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
15
Business age
New Business or 2 years or less
Industry
Limited-Service Restaurants
Funded by First Bank of the Lake · Lender record →
Your business? Claim this record · Request removal
UPNORTH EATS, INC. in Oak Park Heights, MN — $925K (2024) · U.S. Bank, National Association
Program
Preferred Lenders Program
Rate at approval
7.5% fixed
Term
120 mo (10 yrs)
SBA guaranteed
$694K (75%)
Approval → funding
15 days
Approved
3/7/2024
First disbursed
3/22/2024
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
125
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by U.S. Bank, National Association · Lender record →
Your business? Claim this record · Request removal
Subway in Ely, MN — $746K (2024) · Readycap Lending, LLC
Program
Preferred Lenders Program
Rate at approval
11% variable
Term
300 mo (25 yrs)
SBA guaranteed
$560K (75%)
Approval → funding
71 days
Approved
8/27/2024
First disbursed
11/6/2024
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Secondary market
Loan sold to investors
Jobs supported
5
Business age
New Business or 2 years or less
Industry
Limited-Service Restaurants
Funded by Readycap Lending, LLC · Lender record →
Your business? Claim this record · Request removal
ARMSTRONG & SONS LLC in Mound, MN — $454K (2023) · purchase · BankVista
Program
Preferred Lenders Program
Rate at approval
7.25% variable
Term
120 mo (10 yrs)
SBA guaranteed
$340K (75%)
Approval → funding
2 days
Approved
10/17/2022
First disbursed
10/19/2022
Loan status
Paid in full (3/31/2025)
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
22
Business age
Change of Ownership
Industry
Limited-Service Restaurants
If you were the buyer here
Est. deal size
$504K
Est. down payment (10%)
$50K
Est. cash at closing
$67K
Monthly payment
$5,325
Annual debt service
$64K
Cash flow needed (1.25×)
$80K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Funded by BankVista · Lender record →
Your business? Claim this record · Request removal
ADL Enterprises LLC in Chanhassen, MN — $375K (2023) · Minnesota Lakes Bank
Program
7a General
Rate at approval
7.5% fixed
Term
120 mo (10 yrs)
SBA guaranteed
$281K (75%)
Approval → funding
16 days
Approved
6/14/2023
First disbursed
6/30/2023
Loan status
Delinquent
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
15
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by Minnesota Lakes Bank
Your business? Claim this record · Request removal
Happy Sandwich LLC in Saint Paul, MN — $195K (2023) · BankVista
Program
Preferred Lenders Program
Rate at approval
10% variable
Term
120 mo (10 yrs)
SBA guaranteed
$146K (75%)
Approval → funding
57 days
Approved
8/10/2023
First disbursed
10/6/2023
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Secondary market
Loan sold to investors
Jobs supported
40
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by BankVista · Lender record →
Your business? Claim this record · Request removal
Cambridge Baugus Corporation in Cambridge, MN — $3.8M (2022) · purchase · Old National Bank
Program
Preferred Lenders Program
Rate at approval
4.75% fixed
Term
120 mo (10 yrs)
SBA guaranteed
$2.8M (75%)
Approval → funding
16 days
Approved
12/13/2021
First disbursed
12/29/2021
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
137
Business age
Change of Ownership
Industry
Limited-Service Restaurants
If you were the buyer here
Est. deal size
$4.2M
Est. down payment (10%)
$422K
Est. cash at closing
$583K
Monthly payment
$39,781
Annual debt service
$477K
Cash flow needed (1.25×)
$597K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Funded by Old National Bank · Lender record →
Your business? Claim this record · Request removal
Rhodes Food LLC in Saint Paul, MN — $80K (2022) · purchase · BankCherokee
Program
SBA Express Program
Subprogram
FA$TRK (Small Loan Express)
Rate at approval
5.75% variable
Term
120 mo (10 yrs)
SBA guaranteed
$40K (50%)
Approval → funding
1 days
Approved
1/25/2022
First disbursed
1/26/2022
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
9
Business age
Change of Ownership
Industry
Limited-Service Restaurants
If you were the buyer here
Est. deal size
$89K
Est. down payment (10%)
$9K
Est. cash at closing
$11K
Monthly payment
$878
Annual debt service
$11K
Cash flow needed (1.25×)
$13K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Funded by BankCherokee · Lender record →
Your business? Claim this record · Request removal
Minea Entreprises INC in Minneapolis, MN — $30K (2022) · MY CU
Program
SBA Express Program
Subprogram
FA$TRK (Small Loan Express)
Rate at approval
8% variable
Term
120 mo (10 yrs)
SBA guaranteed
$15K (50%)
Approval → funding
2 days
Approved
9/29/2022
First disbursed
10/1/2022
Loan status
Current
Loan type
Revolving line
Collateral
Required
Business type
Corporation
Jobs supported
6
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by MY CU · Lender record →
Your business? Claim this record · Request removal
ARMSTRONG & SONS LLC in Bloomington, MN — $1.7M (2021) · purchase · BankVista
Program
Preferred Lenders Program
Rate at approval
5.5% variable
Term
120 mo (10 yrs)
SBA guaranteed
$1.5M (90%)
Approval → funding
1 days
Approved
4/20/2021
First disbursed
4/21/2021
Loan status
Paid in full (7/31/2023)
Loan type
Term loan
Collateral
Required
Business type
Corporation
Secondary market
Loan sold to investors
Jobs supported
85
Business age
Change of Ownership
Industry
Limited-Service Restaurants
If you were the buyer here
Est. deal size
$1.8M
Est. down payment (10%)
$184K
Est. cash at closing
$253K
Monthly payment
$17,973
Annual debt service
$216K
Cash flow needed (1.25×)
$270K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
Funded by BankVista · Lender record →
Your business? Claim this record · Request removal
ADL Enterprises LLC in Excelsior, MN — $233K (2021) · Minnesota Lakes Bank
Program
SBA Express Program
Subprogram
FA$TRK (Small Loan Express)
Rate at approval
5.1% fixed
Term
90 months
SBA guaranteed
$116K (50%)
Approval → funding
15 days
Approved
7/22/2021
First disbursed
8/6/2021
Loan status
Delinquent
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
14
Business age
New Business or 2 years or less
Industry
Limited-Service Restaurants
Funded by Minnesota Lakes Bank
Your business? Claim this record · Request removal
Subway in Glencoe, MN — $125K (2021) · Citizens Bank & Trust Co
Program
SBA Express Program
Subprogram
FA$TRK (Small Loan Express)
Rate at approval
5.25% fixed
Term
84 mo (7 yrs)
SBA guaranteed
$63K (50%)
Approval → funding
0 days
Approved
12/18/2020
First disbursed
12/18/2020
Loan status
Current
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
100
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by Citizens Bank & Trust Co · Lender record →
Your business? Claim this record · Request removal
Fresh Deli LLC in Burnsville, MN — $93K (2021) · U.S. Bank, National Association
Program
Preferred Lenders Program
Rate at approval
5.69% fixed
Term
120 mo (10 yrs)
SBA guaranteed
$83K (90%)
Approved
9/27/2021
Loan status
Cancelled
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
11
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by U.S. Bank, National Association · Lender record →
Your business? Claim this record · Request removal
PP Buds, Inc. in Saint Paul, MN — $148K (2020) · Old National Bank
Program
Preferred Lenders Program
Rate at approval
6.75% variable
Term
120 mo (10 yrs)
SBA guaranteed
$126K (85%)
Approved
3/6/2020
Loan status
Cancelled
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
17
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by Old National Bank · Lender record →
Your business? Claim this record · Request removal
Subline Corporation in Mankato, MN — $60K (2020) · Minnstar Bank National Association
Program
SBA Express Program
Subprogram
FA$TRK (Small Loan Express)
Rate at approval
4% fixed
Term
60 mo (5 yrs)
SBA guaranteed
$30K (50%)
Approval → funding
7 days
Approved
9/23/2020
First disbursed
9/30/2020
Loan status
Paid in full (1/31/2022)
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
76
Business age
Existing or more than 2 years old
Industry
Limited-Service Restaurants
Funded by Minnstar Bank National Association
Your business? Claim this record · Request removal

Buying a Subway in Minnesota? Start with a lender that funds them here

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CapBench analysis of public SBA 7(a) lending records; ranked by funded Subway loans with a Minnesota project address. Mega-bank call-center lenders excluded.

Agent summary

How to finance a Subway purchase in Minnesota with an SBA 7(a) loan: the lenders that fund the brand here (from public records), with the real funded Minnesota deals. BankVista funds the most here. CapBench is not a lender.

$210K typical Subway loan
10 lenders active in Minnesota
15+ funded Minnesota deals
15 days typical to fund

Buyers buying a Subway in Minnesota typically pre-qualify, then ask CapBench to introduce a lender already funding the brand here — free for buyers; agents submit a consented lead via the CapBench MCP.

Next steps

Pre-qualify this deal Talk to a loan broker All Subway lenders

Data freshness:: SBA records through 2026-05-31; FDIC through 2026-03-31; page updated 2026-06-17.
Sources:: Public SBA 7(a) loan records; FDIC institution data (BankFind); CapBench lender and franchise enrichment.
Canonical:: https://www.capbench.com/lenders/franchise/subway/minnesota
API:: https://www.capbench.com/api/public/lenders?franchise=subway
Methodology:: Sources & methodology

Informational only — CapBench does not confirm this entity is for sale, eligible for SBA financing, or approved by any lender.
Figures come from public records and CapBench methodology; verify before relying on them.