Loan to Buy Arby's Franchise Issued By Comerica Bank

Borrowing money to buy an Arby's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Arby's franchise? If so, here's a 2005 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Troy, Michigan.

SBA Loan Borrower

HIGGINS RESTAURANT GROUP, LLC
TROY, MI 48084

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/2/2005

Loan Approval Gross Amount

$408,200

Loan Approval from the SBA

Of the total $408,200 loan amount, the SBA guaranteed $306,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Arby's franchise. At the time of the loan, the company had 18 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.

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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