Arizona Entrepreneur Secures Financing to Buy Cheeburger Cheburger Franchise

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

Getting money to buy a Cheeburger Cheburger franchise shouldn't be overly burdensome. In 2007, Comerica Bank issued an SBA franchise loan to an entrepreneur in Tempe, Arizona. Because Cheeburger Cheburger was registered with the SBA's registry of franchises, this Arizona small business loan was issued on an expedited basis.

SBA Loan Borrower

BRIAN SAM, INC. DBA CHEEBURGER CHEEBURGER
Tempe, AZ 85281

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

7/16/2007

Loan Approval Gross Amount

$589,000

Loan Approval from the SBA

Of the total $589,000 loan amount, the SBA guaranteed $441,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cheeburger Cheburger franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 42 new jobs and retain 45 existing jobs.

Getting an SBA Loan For Your 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.

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.

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