Comerica Bank Provides SBA Loan to Buy Zaxby's Franchise

Borrowing money 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 is doable. In 2004, Comerica Bank issued an SBA franchise loan to an entrepreneur in Greenville, 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
GREENVILLE, NC 27833

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

9/17/2004

Loan Approval Gross Amount

$1,250,000

Loan Approval from the SBA

Of the total $1,250,000 loan amount, the SBA guaranteed $937,500.

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 3 employees. The SBA loan documents indicated that the loan would help generate 37 new jobs and retain 3 existing 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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