Borrow Money to Buy a Sonic Drive-In Franchise

Need a loan to invest in a Sonic Drive-In franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sonic Drive-In franchise is doable. In 2003, Comerica Bank issued an SBA franchise loan to an entrepreneur in Tampa, Florida. Because Sonic Drive-In was registered with the SBA's registry of franchises, this Florida small business loan was issued on an expedited basis.

SBA Loan Borrower

SONIC
TAMPA, FL 33615

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$1,179,000

Loan Approval from the SBA

Of the total $1,179,000 loan amount, the SBA guaranteed $884,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sonic Drive-In franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help generate 80 new jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Tampa FL, you ought to talk with a local Tampa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tampa businesses.

This SBA loan was for $1,179,000. How would you spend $1,179,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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