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March 28, 2024  
 
 
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Loan Census SBA Loan Info

Borrow Money to Buy a Breadsmith Franchise

Borrowing money to purchase a Breadsmith franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Houston, Texas needed money to invest in a Breadsmith franchise back in 2000. Comerica Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

BREADSMITH
HOUSTON, TX 77079

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

Loan Approval Date

4/26/2000

Loan Approval Gross Amount

$155,500

Loan Approval from the SBA

Of the total $155,500 loan amount, the SBA guaranteed $116,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Breadsmith franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

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.

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Breadsmith

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