Tennessee Entrepreneur Secures Financing to Buy Zaxby's Franchise

Need a loan 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 may simply require a phone call to a local SBA banker. In 2005, Comerica Bank issued an SBA franchise loan to an entrepreneur in Hixson (rr Name Hixson), Tennessee. Because Zaxby's was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

ZAXBY'S
HIXSON (RR NAME HIXSON), TN 37343

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

4/29/2005

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

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 application for the borrower indicated that the loan would help generate 40 new jobs and retain 3 existing jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Comerica Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Zaxby's

How Much Venture Capital Is There?

Banks in Dallas, Texas

SBA Lenders in Texas