Henderson, NV Entrepreneur Gets SBA Loan to Buy Petland Franchise

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

Getting money to buy a Petland franchise shouldn't be overly burdensome. In 2005, Comerica Bank issued an SBA franchise loan to an entrepreneur in Henderson, Nevada. Because Petland was registered with the SBA's registry of franchises, this Nevada small business loan was issued on an expedited basis.

SBA Loan Borrower

LOGAN METHODICAL LLC
HENDERSON, NV 89014

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

453910 - Pet and Pet Supplies Stores

Loan Approval Date

5/11/2005

Loan Approval Gross Amount

$735,700

Loan Approval from the SBA

Of the total $735,700 loan amount, the SBA guaranteed $551,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Petland franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 16 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Henderson or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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