Loan to Buy Sonic Franchise Issued By Comerica Bank

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

An entrepreneur in New Port Richey, Florida needed money to invest in a Sonic franchise back in 2003. Comerica Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

SONIC
NEW PORT RICHEY, FL 34655

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/26/2003

Loan Approval Gross Amount

$1,249,400

Loan Approval from the SBA

Of the total $1,249,400 loan amount, the SBA guaranteed $937,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sonic franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the funding would help generate 22 new jobs.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

A Company That Helps Entrepreneurs

Best Banks for Small Business in Houston, Texas

SBA Lenders in Texas