Getting an SBA Loan for Snack and Nonalcoholic Beverage Bars

With these SBA loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $206,100 was given to a Georgia entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Snellville, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Comerica Bank, based in Dallas, Texas.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
Snellville, GA 30078

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/15/2006

Loan Approval Gross Amount

$206,100

Loan Approval from the SBA

Of the total $206,100 loan amount, the SBA guaranteed $154,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the borrowed money would help generate 8 new jobs.

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

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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Comerica Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

How Equity Dilution Works

SBA 7A Lenders in Dallas, Texas

Texas SBA Bank Lenders