Borrow Money to Buy a Big Boy Franchise

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

Getting money to buy a Big Boy franchise shouldn't be too tough. In 2006, Comerica Bank issued an SBA franchise loan to an entrepreneur in Rochester Hills, Michigan. Because Big Boy was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

MASITBI LLC
ROCHESTER HILLS, MI 48307

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

10/17/2006

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big Boy franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 55 new jobs and retain 55 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small 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:

Big Boy Restaurants International LLC

Borrowing Money from Friends and Family

SBA Approved Banks in Dallas, Texas

Texas SBA 7A Lenders