Tennessee Entrepreneur Secures Financing to Buy Edible Arrangements Franchise

Need money to buy an Edible Arrangements franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Edible Arrangements franchise? If so, here's a 2007 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Hendersonville, Tennessee.

SBA Loan Borrower

FRUIT CREATION, LLC DBA EDIBLE ARRANGEMENT
Hendersonville, TN 37075

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/27/2007

Loan Approval Gross Amount

$234,500

Loan Approval from the SBA

Of the total $234,500 loan amount, the SBA guaranteed $175,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Edible Arrangements franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

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:

Edible Arrangements

Role of Business Plan When Raising Money

SBA Banks in Dallas, Texas

Texas SBA 7A Lenders