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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Comerica Bank Houston Business Loans > Cici's Pizza Loan | ||||
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Texas Small Business Funding for Franchises
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Comerica Bank Provides SBA Loan to Buy Cici's Pizza FranchiseNeed a loan to buy a Cici's Pizza franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA. Cici's Pizza franchise loans are available to San Antonio, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Houston, Texas, issued an SBA franchise loan for a Cici's Pizza franchise in 2000. We've got all the details on this Texas small business loan. SBA Loan Borrower CICI'S PIZZA SBA Loan Lender COMERICA BANK 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. SIC Code 5812 - Eating Places Loan Approval Date 3/9/2000 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 Cici's Pizza franchise. At the time of the loan, the company had 50 employees. The loan application indicated that the loan would help generate 50 new jobs and retain 50 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks in Houston, Texas
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