Comerica Bank SBA Loan to Sporting And Athletic Goods Company

An SBA loan from Comerica Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Amarillo, Texas business owner got a $600,000 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $600,000 to help grow their Amarillo, Texas business.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND ATHLETIC GOODS
AMARILLO, TX 79109

SBA Loan Lender

COMERICA BANK
1601 ELM ST
DALLAS, TX 75201

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3949 - Sporting and Athletic Goods

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

3/6/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $600,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Cash Advances

SBA Banks in Dallas, Texas

Getting an SBA Loan in Texas