Borrow Money to Buy a Long John Silver's Franchise

Borrowing money 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 shouldn't be overly burdensome. In 2006, 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 45211

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

6/7/2006

Loan Approval Gross Amount

$1,270,000

Loan Approval from the SBA

Of the total $1,270,000 loan amount, the SBA guaranteed $952,500.

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 105 employees. The SBA loan documents indicated that the loan would help retain 105 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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