Savannah, GA Entrepreneur Gets SBA Loan to Buy Beef O'Brady's Franchise

Borrowing money to invest in a Beef O'Brady's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Savannah, Georgia needed money to invest in a Beef O'Brady's franchise back in 2004. Comerica Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

BEEF O'BRADY'S
SAVANNAH, GA 31410

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

722110 - Full-Service Restaurants

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$416,700

Loan Approval from the SBA

Of the total $416,700 loan amount, the SBA guaranteed $312,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Beef O'Brady's franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the borrowed money would help create 18 new jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

Beef O'Brady's Family Sports Pubs

Getting a Small Business Loan

Best Banks for Small Business in Dallas, Texas

Browse All Business Loan Sources for Texas