Loan to Buy Sonic Franchise Issued By Comerica Bank

Need a loan to purchase a Sonic franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Baytown, Texas needed money to invest in a Sonic franchise back in 2003. Comerica Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

SONIC
BAYTOWN, TX 77520

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/5/2003

Loan Approval Gross Amount

$1,105,000

Loan Approval from the SBA

Of the total $1,105,000 loan amount, the SBA guaranteed $828,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sonic franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 73 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $1,105,000. How would you spend $1,105,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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