Cincinnati, OH Entrepreneur Gets SBA Loan to Buy Long John Silver's Franchise

Need a loan to purchase a Long John Silver's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Long John Silver's franchise requires some effort but others before you have been successful. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Cincinnati, Ohio. Because Long John Silver's was registered with the SBA's registry of franchises, this Ohio small business loan was issued on an expedited basis.

SBA Loan Borrower

AFFINITY BUSBY 101, INC. DBA LONG JOHN SIL
Cincinnati, OH 45236

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/1/2007

Loan Approval Gross Amount

$256,500

Loan Approval from the SBA

Of the total $256,500 loan amount, the SBA guaranteed $192,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Long John Silver's franchise. At the time of the loan, the company had 85 employees. The SBA loan documents indicated that the loan would help retain 85 existing jobs.

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

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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