Illinois Entrepreneur Secures Financing to Buy Edible Arrangements Franchise

Borrowing money to invest in an Edible Arrangements franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Edible Arrangements franchise may simply require a phone call to a local SBA banker. In 2006, Comerica Bank issued an SBA franchise loan to an entrepreneur in Aurora, Illinois. Because Edible Arrangements was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

EDIBLE ARRANGEMENTS OF CHICAGO
AURORA, IL 60504

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/19/2006

Loan Approval Gross Amount

$190,100

Loan Approval from the SBA

Of the total $190,100 loan amount, the SBA guaranteed $142,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements 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 3 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Aurora or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Edible Arrangements

Business Line of Credit

SBA Approved Banks in Dallas, Texas

Getting an SBA Loan in Texas