Borrow Money to Buy a Pancho's Franchise

Need money to purchase a Pancho's franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pancho's franchise? If so, here's a 2003 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Austin, Texas.

SBA Loan Borrower

PANCHO'S
2705 BEE CAVES ROAD SUITE 35
AUSTIN, TX 78746

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

7/22/2003

Loan Approval Gross Amount

$345,000

Loan Approval from the SBA

Of the total $345,000 loan amount, the SBA guaranteed $258,750.

More Information on This SBA Loan

The borrower, Pancho's, borrowed this money for a new business. This loan was used to buy a Pancho's franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 40 new jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Pancho's needed a loan. Comerica Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that Pancho's was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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