Michigan Entrepreneur Secures Financing to Buy Pet Supplies "Plus" II Franchise

Borrowing money to buy a Pet Supplies "Plus" II franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Pet Supplies "Plus" II franchise loans are available to Waterford, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Comerica Bank, based in Dallas, Texas, issued an SBA franchise loan for a Pet Supplies "Plus" II franchise in 2002. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

GOODWIN & GOODWIN PET SUPPLIES
WATERFORD, MI 48327

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

5/22/2002

Loan Approval Gross Amount

$652,000

Loan Approval from the SBA

Of the total $652,000 loan amount, the SBA guaranteed $489,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pet Supplies "Plus" II franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 1 existing job.

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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