Comerica Bank SBA Loan to Convenience Stores Company

An SBA loan from Comerica Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mchenry, Illinois business owner got a $1,702,000 loan.

Getting a small business loan in Mchenry, Illinois was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Dallas, Texas. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
McHenry, IL 60050

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

445120 - Convenience Stores

Loan Approval Date

5/30/2007

Loan Approval Gross Amount

$1,702,000

Loan Approval from the SBA

Of the total $1,702,000 loan amount, the SBA guaranteed $1,276,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Comerica Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Banks in Dallas, Texas

Texas SBA Banks