Comerica Bank Provides SBA Loan to Buy Petland Franchise

Borrowing money to invest in a Petland franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Tinley Park, Illinois needed money to invest in a Petland franchise back in 2004. Comerica Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

MODDO INC
TINLEY PARK, IL 36047

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

1/22/2004

Loan Approval Gross Amount

$557,700

Loan Approval from the SBA

Of the total $557,700 loan amount, the SBA guaranteed $418,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Petland franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 22 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We've showcased information on this loan to let you know that businesses like yours 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.

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