Fullerton, CA Entrepreneur Gets SBA Loan to Buy Togo's Eatery Franchise

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

Getting money to buy a Togo's Eatery 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 Fullerton, California. Because Togo's Eatery was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

TOGO'S AND BASKIN-ROBBINS
FULLERTON, CA 92833

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

11/21/2003

Loan Approval Gross Amount

$230,000

Loan Approval from the SBA

Of the total $230,000 loan amount, the SBA guaranteed $172,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Togo's Eatery franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 23 new jobs and retain 24 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Comerica Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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