Loan to Buy Wireless Franchise Issued By Comerica Bank

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

Wireless franchise loans are available to Margate, Florida entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Dallas, Texas, issued an SBA franchise loan for a Wireless franchise in 2005. We've got all the details on this Florida small business loan.

SBA Loan Borrower

WIRELESS TOYZ
MARGATE, FL 33063

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA 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

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

7/11/2005

Loan Approval Gross Amount

$216,700

Loan Approval from the SBA

Of the total $216,700 loan amount, the SBA guaranteed $162,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Wireless 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 4 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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 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:

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SBA Lenders in Texas