California Entrepreneur Secures Financing to Buy Tacone Franchise

Need a loan to buy a Tacone franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Los Angeles, California needed money to invest in a Tacone franchise back in 2000. Comerica Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

TACONE
LOS ANGELES, CA 90010

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

722211 - Limited-Service Restaurants

Loan Approval Date

11/15/2000

Loan Approval Gross Amount

$830,000

Loan Approval from the SBA

Of the total $830,000 loan amount, the SBA guaranteed $622,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Tacone franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 20 existing 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Tacone

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