Texas Entrepreneur Secures Financing to Buy Edible Arrangements Franchise
Need money to purchase an Edible Arrangements franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy an Edible Arrangements franchise shouldn't be too tough. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Austin, Texas. Because Edible Arrangements was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.
SBA Loan Borrower
AUSTIN, TX 78745
SBA Loan Lender
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814
This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
722213 - Snack and Nonalcoholic Beverage Bars
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $261,600 loan amount, the SBA guaranteed $196,200.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company
had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 1 existing job.
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.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
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