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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Comerica Bank Houston Business Loans > Breadsmith Loan | ||||
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Good Sources for Houston SBA Loans
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Borrow Money to Buy a Breadsmith FranchiseBorrowing money to purchase a Breadsmith franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Houston, Texas needed money to invest in a Breadsmith franchise back in 2000. Comerica Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower BREADSMITH SBA Loan Lender COMERICA BANK 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. SIC Code 5461 - Retail Bakeries Loan Approval Date 4/26/2000 Loan Approval Gross Amount $155,500 Loan Approval from the SBA Of the total $155,500 loan amount, the SBA guaranteed $116,625. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Breadsmith franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks for Small Business in Houston, Texas
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