Comerica Bank Provides SBA Loan to Buy Long John Silver's Franchise

Need a loan to purchase a Long John Silver's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Siloam Springs, Arkansas needed money to invest in a Long John Silver's franchise back in 2006. Comerica Bank issued an SBA franchise loan. Here are the details on this Arkansas small business loan.

SBA Loan Borrower

REED FOOD SERVICE, LLC DBA LONG JOHN SILVE
Siloam Springs, AR 72761

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/29/2006

Loan Approval Gross Amount

$872,000

Loan Approval from the SBA

Of the total $872,000 loan amount, the SBA guaranteed $654,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Long John Silver's franchise. At the time of the loan, the company had 23 employees. The SBA loan application for the borrower indicated that the loan would help retain 22 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Long John Silver's Restaurants, Inc.

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