The Woodlands, TX Entrepreneur Gets SBA Loan to Buy Primrose School daycare Franchise
Need money to invest in a Primrose School daycare franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.
Primrose School daycare franchise loans are available to The Woodlands, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Houston, Texas, issued an SBA franchise loan for a Primrose School daycare franchise in 2000. We've got all the details on this Texas small business loan.
SBA Loan Borrower
PRIMROSE SCHOOL OF THE WOODLAN
THE WOODLANDS, TX 77382
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.
SIC Code
8351 - Child Day Care Services
NAICS Code
624410 - Child Day Care Services
Loan Approval Date
8/8/2000
Loan Approval Gross Amount
$815,000
Loan Approval from the SBA
Of the total $815,000 loan amount, the SBA guaranteed $611,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Primrose School daycare franchise. At the time of the loan, the company
had only one employee. This SBA loan request indicated that the loan would help create 38 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Primrose School Franchising Company
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Best Houston, Texas Banks for Small Business
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