La Grange, GA Entrepreneur Gets SBA Loan to Buy Bruster's Franchise
Need money to buy a Bruster's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in La Grange, Georgia needed money to invest in a Bruster's franchise back in 2003. Comerica Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.
SBA Loan Borrower
BRUSTER'S OLD FASHIONED ICE CR
LA GRANGE, GA 30240
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
722211 - Limited-Service Restaurants
Loan Approval Date
10/16/2003
Loan Approval Gross Amount
$768,000
Loan Approval from the SBA
Of the total $768,000 loan amount, the SBA guaranteed $576,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Bruster's franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents indicated that the loan would help generate 25 new jobs and retain 28 existing jobs.
Next Steps for Getting an SBA Loan
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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $768,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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