Borrow Money to Buy a Sonic Franchise

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

Sonic franchise loans are available to Port Richey, 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 Sonic franchise in 2005. We've got all the details on this Florida small business loan.

SBA Loan Borrower

SONIC AT RIDGE ROAD INC
PORT RICHEY, FL 34668

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/15/2005

Loan Approval Gross Amount

$1,051,600

Loan Approval from the SBA

Of the total $1,051,600 loan amount, the SBA guaranteed $788,625.

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 20 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 30 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Port Richey or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Obtaining Funding - Friends and Family

Banks in Dallas, Texas

Texas SBA 7A Banks