Loan to Buy Grandy's Franchise Issued By Comerica Bank

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

Getting money to buy a Grandy's franchise is doable. In 2001, Comerica Bank issued an SBA franchise loan to an entrepreneur in Coppell, Texas. Because Grandy's was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

GRANDY'S
COPPELL, TX 75019

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/11/2001

Loan Approval Gross Amount

$1,402,000

Loan Approval from the SBA

Of the total $1,402,000 loan amount, the SBA guaranteed $999,994.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Grandy's franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 13 new jobs and retain 14 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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