San Marcos, TX Entrepreneur Gets SBA Loan to Buy Schlotzsky's Sandwich Shop Franchise

Need money to invest in a Schlotzsky's Sandwich Shop franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near San Marcos, Texas and are interested in buying a Schlotzsky's Sandwich Shop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SCHLOTZSKY'S DELI, SAN MARCOS
SAN MARCOS, TX 78666

SBA Loan Lender

COMERICA BANK
300 W 6TH ST, STE 1300
AUSTIN, TX 78701

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

2/23/2000

Loan Approval Gross Amount

$1,397,900

Loan Approval from the SBA

Of the total $1,397,900 loan amount, the SBA guaranteed $733,436.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Schlotzsky's Sandwich Shop franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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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Schlotzsky's Deli

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Small Business Banks in Austin, Texas

SBA Lenders in Texas