Loan to Buy Wireless Toyz Franchise Issued By Comerica Bank
Borrowing money to buy a Wireless Toyz franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Encino, California needed money to invest in a Wireless Toyz franchise back in 2006. Comerica Bank issued an SBA franchise loan. Here are the details on this California small business loan.
SBA Loan Borrower
WIRELESS TOYZ
ENCINO, CA 91316
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
443112 - Radio, Television, and Electronics Stores
Loan Approval Date
10/27/2006
Loan Approval Gross Amount
$268,500
Loan Approval from the SBA
Of the total $268,500 loan amount, the SBA guaranteed $201,375.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Wireless Toyz franchise. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
If you need business start up money in Encino CA, you ought to talk with a local Encino SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Encino businesses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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