Loan to Buy Three Brothers Franchise Issued By Commercefirst Bank

Need a loan to invest in a Three Brothers franchise? Commercefirst Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Three Brothers franchise? If so, here's a 2007 SBA franchise loan that you should know about. Commercefirst Bank was the lender and the entrepreneur was based in Hyattsville, Maryland.

SBA Loan Borrower

THREE BROTHERS UNIVERSITY TOWN
HYATTSVILLE, MD 20782

SBA Loan Lender

COMMERCEFIRST BANK
1804 WEST ST, STE 200
ANNAPOLIS, MD 21401

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

8/21/2007

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Three Brothers franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Commercefirst 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.

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