Comerica Bank Provides SBA Loan to Buy Coffee Beanery retail Coffee Franchise

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

An entrepreneur in Novi, Michigan needed money to invest in a Coffee Beanery retail Coffee franchise back in 2004. Comerica Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

THE COFFEE BEANERY
NOVI, MI 48375

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This lender provides SBA commercial 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

722211 - Limited-Service Restaurants

Loan Approval Date

5/7/2004

Loan Approval Gross Amount

$275,300

Loan Approval from the SBA

Of the total $275,300 loan amount, the SBA guaranteed $206,475.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Coffee Beanery retail Coffee franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 25 new jobs and retain 25 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Novi MI, you ought to talk with a local Novi SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Novi 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.

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