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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Genesee Mobil Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Comerica Bank Provides SBA Loan to Buy Exxon FranchiseBorrowing money to buy an Exxon franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in San Diego, California needed money to invest in an Exxon franchise back in 2003. Comerica Bank issued an SBA franchise loan. Here are the details on this California small business loan. SBA Loan Borrower GENESEE MOBIL 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 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 10/8/2003 Loan Approval Gross Amount $149,000 Loan Approval from the SBA Of the total $149,000 loan amount, the SBA guaranteed $126,650. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Exxon franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help generate 1 new job and retain 7 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 $149,000 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: Obtaining Funding - Friends and Family SBA Approved Banks in Dallas, Texas
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