Comerica Bank Provides SBA Loan to Buy Fastsigns Franchise

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

Getting money to buy a Fastsigns franchise requires some effort but others before you have been successful. In 2002, Comerica Bank issued an SBA franchise loan to an entrepreneur in Waltham, Massachusetts. Because Fastsigns was registered with the SBA's registry of franchises, this Massachusetts small business loan was issued on an expedited basis.

SBA Loan Borrower

FASTSIGNS
WALTHAM, MA 02451

SBA Loan Lender

COMERICA BANK
1601 ELM ST
DALLAS, TX 75201

This lender issued this SBA small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7336 - Commercial Art and Graphic Design

NAICS Code

541430 - Graphic Design Services

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

FASTSIGNS

Business Credit Evaluation

SBA 7A Lenders in Dallas, Texas

Getting an SBA Loan in Texas