Entrepreneur Works With Dallas, Texas Bank to Get an SBA Loan

Find Dallas, Texas banks that specialize in business loans and know how to work with entrepreneurs. Comerica Bank is one such bank, as evidenced by this SBA loan to Franchise Wise, LLC Dba Serendipity Bridal.

Finding a small business loan in Austin, Texas starts with an understanding of who else has gotten loans in the area. In this case, Franchise Wise, LLC Dba Serendipity Bridal received funding from Comerica Bank Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

Franchise Wise, LLC dba Serendipity Bridal
2438 W. Anderson Lane, Suit
Austin, TX 78757

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Other Clothing Stores

Loan Approval Date

4/13/2006

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower, Franchise Wise, LLC Dba Serendipity Bridal, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 Franchise Wise, LLC Dba Serendipity Bridal walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money!

About This SBA Loan Information:

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

Related Links:

Obtaining Funding - How to Borrow Money

Best Dallas, Texas Banks for Small Business

SBA Participating Banks in Texas

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