Texas Entrepreneur Secures Financing to Buy Grandy's Franchise

Borrowing money to buy a Grandy's franchise? Comerica Bank-Texas has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Grandy's franchise? If so, here's a 2003 SBA franchise loan that you should know about. Comerica Bank-Texas was the lender and the entrepreneur was based in Abilene, Texas.

SBA Loan Borrower

GRANDY'S
ABILENE, TX 79603

SBA Loan Lender

COMERICA BANK-TEXAS
1508 W MOCKINGBIRD LN
DALLAS, TX 75235

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

2/10/2003

Loan Approval Gross Amount

$434,000

Loan Approval from the SBA

Of the total $434,000 loan amount, the SBA guaranteed $325,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Grandy's franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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-Texas 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.

Related Links:

Grandy's, Inc.

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