Comerica Bank Provides SBA Loan to Buy Petland Franchise

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

Petland franchise loans are available to Canton, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Dallas, Texas, issued an SBA franchise loan for a Petland franchise in 2004. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

K-PETS INC
CANTON, MI 48188

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$563,600

Loan Approval from the SBA

Of the total $563,600 loan amount, the SBA guaranteed $422,700.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 25 new jobs and retain 3 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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