Michigan Entrepreneur Secures Financing to Buy Big Boy Franchise
Need a loan to invest in a Big Boy franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy a Big Boy franchise may simply require a phone call to a local SBA banker. In 2001, Comerica Bank issued an SBA franchise loan to an entrepreneur in Southfield, Michigan. Because Big Boy was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.
SBA Loan Borrower
NABIL MATAR MATAR HOSPITALITY
SOUTHFIELD, MI 48034
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
6/8/2001
Loan Approval Gross Amount
$600,000
Loan Approval from the SBA
Of the total $600,000 loan amount, the SBA guaranteed $450,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Big Boy franchise. At the time of the loan, the company
had 40 employees. This SBA loan request indicated that the loan would help retain 40 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Big Boy Restaurants International LLC
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Getting a Business Loan in Texas