North Carolina Entrepreneur Secures Financing to Buy Beef O'Brady's Franchise

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

If you live near Fayetteville, North Carolina and are interested in buying a Beef O'Brady's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2008 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

D'BEEF'S LLC DBA BEEF O' BRADY'S
Fayetteville, NC 28301

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/9/2008

Loan Approval Gross Amount

$678,000

Loan Approval from the SBA

Of the total $678,000 loan amount, the SBA guaranteed $508,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Beef O'Brady's franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Beef O'Brady's Family Sports Pubs

Investor Turnoffs

Best Houston, Texas Banks for Small Business

SBA Texas Banks