Comerica Bank Provides SBA Loan to Buy Precision Tune Franchise

Need money to buy a Precision Tune franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Precision Tune franchise is doable. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in San Jose, California. Because Precision Tune was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

PRECISION TUNE AUTO CARE
SAN JOSE, CA 95118

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

811111 - General Automotive Repair

Loan Approval Date

6/23/2003

Loan Approval Gross Amount

$499,000

Loan Approval from the SBA

Of the total $499,000 loan amount, the SBA guaranteed $374,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Precision Tune franchise. At the time of the loan, the company had 9 employees. The loan application indicated that the borrowed money would help create 9 new jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $499,000. How would you spend $499,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Precision Tune Auto Care

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Dallas, Texas

Texas SBA 7A Lenders