Borrow Money to Buy a Shoney's Restaurant Franchise

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

If you live near Gainesville, Florida and are interested in buying a Shoney's Restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 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

SHONEY'S #1449
GAINESVILLE, FL 32608

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/22/2003

Loan Approval Gross Amount

$140,800

Loan Approval from the SBA

Of the total $140,800 loan amount, the SBA guaranteed $105,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Shoney's Restaurant franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help create 40 new jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Shoney's Restaurants

Financing Your Business

Who Lends Money to Small Businesses in Dallas, Texas

Browse All Business Loan Sources for Texas