Oceanside, CA Entrepreneur Gets SBA Loan to Buy Popeye's Famous Fried Chicken Franchise

Need a loan to purchase a Popeye's Famous Fried Chicken franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Oceanside, California and are interested in buying a Popeye's Famous Fried Chicken franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

POPEYE CHICKEN & BISCUIT
OCEANSIDE, CA 92054

SBA Loan Lender

COMERICA BANK
800 OAK GROVE AVE
MENLO PARK, CA 94025

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

5/31/2000

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Popeye's Famous Fried Chicken franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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