Borrow Money to Buy a Mellow Mushroom Franchise

Borrowing money to invest in a Mellow Mushroom franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Augusta, Georgia needed money to invest in a Mellow Mushroom franchise back in 2002. Comerica Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan.

SBA Loan Borrower

MELLOW MUSHROOM
AUGUSTA, GA 30901

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This business loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/18/2002

Loan Approval Gross Amount

$463,000

Loan Approval from the SBA

Of the total $463,000 loan amount, the SBA guaranteed $347,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mellow Mushroom franchise. At the time of the loan, the company had 26 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm 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 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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