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April 27, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Eating Places Loan | ||||
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Texas Bank SBA Loans
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Comerica Bank SBA Loan to Eating Places CompanyLooking to get a California SBA loan? Here's one California business loan that was approved by the SBA. This growing firm needed an SBA business loan in Bishop, California back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Dallas, Texas. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES 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. SIC Code 5812 - Eating Places Loan Approval Date 3/29/2000 Loan Approval Gross Amount $831,000 Loan Approval from the SBA Of the total $831,000 loan amount, the SBA guaranteed $623,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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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