Comerica Bank Provides SBA Loan to Buy Primrose School daycare Franchise

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

An entrepreneur in Rowlett, Texas needed money to invest in a Primrose School daycare franchise back in 2003. Comerica Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

PRIMROSE SCHOOL OF ROWLETT
ROWLETT, TX 75032

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$299,900

Loan Approval from the SBA

Of the total $299,900 loan amount, the SBA guaranteed $224,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company had 22 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Comerica Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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