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November 21, 2024  
 
 
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Loan Census SBA Loan Info

Business Loan from Comerica Bank Given to Eating Places Company

An SBA loan from Comerica Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dallas, Texas business owner got a $390,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Dallas, Texas, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Comerica Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
DALLAS, TX 75202

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/28/2003

Loan Approval Gross Amount

$390,000

Loan Approval from the SBA

Of the total $390,000 loan amount, the SBA guaranteed $292,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $390,000 loan. Remember, if it to be, it is up to me!

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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