Comerica Bank Provides SBA Loan to Buy Texaco Service Station Franchise

Need a loan to buy a Texaco Service Station franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Texaco Service Station franchise? If so, here's a 2002 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Hemsptead, Texas.

SBA Loan Borrower

1488 SHELL
HEMSPTEAD, TX 77485

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

3/28/2002

Loan Approval Gross Amount

$1,510,000

Loan Approval from the SBA

Of the total $1,510,000 loan amount, the SBA guaranteed $999,998.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Texaco Service Station franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Texaco Service Station

Business Cash Advances

SBA 7A Banks in Houston, Texas

SBA Texas Lenders