Virginia Entrepreneur Secures Financing to Buy Petland Franchise

Borrowing money to buy a Petland franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Petland franchise may simply require a phone call to a local SBA banker. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Fairfax, Virginia. Because Petland was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

PETLAND FAIRFAX
FAIRFAX, VA 22031

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

When this loan was made, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program was created to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

5/1/2003

Loan Approval Gross Amount

$476,000

Loan Approval from the SBA

Of the total $476,000 loan amount, the SBA guaranteed $357,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Petland franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the company promised to use the loan proceeds to add 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.

We can help you find the best banks for small businesses in Fairfax or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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