Borrow Money to Buy a Petland Franchise

Borrowing money to buy 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 is doable. In 2004, Comerica Bank issued an SBA franchise loan to an entrepreneur in Charlotte, North Carolina. Because Petland was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

PETLAND ARBORETUM
CHARLOTTE, NC 28277

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

9/28/2004

Loan Approval Gross Amount

$613,100

Loan Approval from the SBA

Of the total $613,100 loan amount, the SBA guaranteed $459,825.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Petland franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 23 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $613,100 loan. Remember, where there is a will, there is a way!

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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