Texas Entrepreneur Secures Financing to Buy Back Yard Burgers Franchise

Need a loan to purchase a Back Yard Burgers franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Back Yard Burgers franchise loans are available to Waco, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Dallas, Texas, issued an SBA franchise loan for a Back Yard Burgers franchise in 2005. We've got all the details on this Texas small business loan.

SBA Loan Borrower

BACK YARD BURGERS
WACO, TX 76711

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/17/2005

Loan Approval Gross Amount

$1,345,000

Loan Approval from the SBA

Of the total $1,345,000 loan amount, the SBA guaranteed $1,008,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Back Yard Burgers franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 36 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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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