Comerica Bank Provides SBA Loan to Buy Cheeburger Cheburger Franchise

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

Getting money to buy a Cheeburger Cheburger franchise may simply require a phone call to a local SBA banker. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Roanoke, Virginia. Because Cheeburger Cheburger was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

ROANOKE'S BETTER BURGER LLC DBA CHEEBURGER
Roanoke, VA 24018

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

8/21/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cheeburger Cheburger franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 35 new jobs and retain 35 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

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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