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April 29, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Hamburger Mary's Bar & Grille Loan | ||||
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Where to Get a Business Loan to Purchase a Franchise
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Dallas, TX Entrepreneur Gets SBA Loan to Buy Hamburger Mary's Organic Grill FranchiseNeed a loan to invest in a Hamburger Mary's Organic Grill franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Hamburger Mary's Organic Grill franchise may simply require a phone call to a local SBA banker. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Dallas, Texas. Because Hamburger Mary's Organic Grill was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower HAMBURGER MARY'S BAR & GRILLE 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 722110 - Full-Service Restaurants Loan Approval Date 9/17/2003 Loan Approval Gross Amount $385,000 Loan Approval from the SBA Of the total $385,000 loan amount, the SBA guaranteed $288,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Hamburger Mary's Organic Grill franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help create 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 $385,000 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in Dallas, Texas Browse All Business Loan Sources for Texas
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