Florida Entrepreneur Secures Financing to Buy Petland Franchise

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

Getting money to buy a Petland franchise requires some effort but others before you have been successful. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Apopka, Florida. Because Petland was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

PETLAND
APOPKA, FL 32703

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

453910 - Pet and Pet Supplies Stores

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$556,600

Loan Approval from the SBA

Of the total $556,600 loan amount, the SBA guaranteed $417,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Petland franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 14 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Apopka FL, you ought to talk with a local Apopka SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Apopka 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 $556,600 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.

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