Florida Entrepreneur Secures Financing to Buy Cheeburger Cheburger Franchise

Need money to purchase a Cheeburger Cheburger franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Jacksonville, Florida needed money to invest in a Cheeburger Cheburger franchise back in 2006. Comerica Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

CHEEBURGER CHEEBURGER OF JACKS
JACKSONVILLE, FL 32256

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/6/2006

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cheeburger Cheburger franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 40 new jobs and retain 45 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Jacksonville FL, you ought to talk with a local Jacksonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jacksonville businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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