Comerica Bank Provides SBA Loan to Buy Zaxby's Franchise

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

Getting money to buy a Zaxby's 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 Forest City, North Carolina. Because Zaxby's was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

ZAXBY'S
FOREST CITY, NC 28043

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/18/2003

Loan Approval Gross Amount

$272,000

Loan Approval from the SBA

Of the total $272,000 loan amount, the SBA guaranteed $204,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Zaxby's franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 40 new jobs and retain 41 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $272,000 loan. Remember, feel the fear, and do it anyway.

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.

Related Links:

Zaxby's

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SBA Approved Banks in Houston, Texas

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