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May 4, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Comerica Bank Houston Business Loans > Atlanta Bread Company Cafe Bak Loan | ||||
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I Need Commercial Loans to Buy a Franchise in Dallas, Texas
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Loan to Buy Atlanta Bread Company Franchise Issued By Comerica BankBorrowing money to purchase an Atlanta Bread Company franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy an Atlanta Bread Company franchise is doable. In 2002, Comerica Bank issued an SBA franchise loan to an entrepreneur in Dallas, Texas. Because Atlanta Bread Company was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower ATLANTA BREAD COMPANY CAFE BAK SBA Loan Lender COMERICA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/28/2002 Loan Approval Gross Amount $670,000 Loan Approval from the SBA Of the total $670,000 loan amount, the SBA guaranteed $502,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an Atlanta Bread Company franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 25 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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