Sterling National Bank‘s franchise finance group provided a development line of credit totaling $1.5 million to Sub in the Sun, a franchisee of Jersey Mike’s. The credit facilities will be used by the company to create four new locations.
Founded in 2011, Sub in the Sun owns and operates 24 Jersey Mike’s locations in the state of Arizona. The Jersey Mike’s brand, founded in 1956, is a nationwide submarine sandwich brand with more than 2,000 locations.
Lindy Baldwin, a managing director located in Sterling’s New York office, originated this transaction.
