Loan to Buy Mellow Mushroom Franchise Issued By Comerica Bank

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

If you live near Hilton Head Island, South Carolina and are interested in buying a Mellow Mushroom franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Comerica Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MELLOW MUSHROOM
HILTON HEAD ISLAND, SC 29928

SBA Loan Lender

COMERICA BANK
300 W 6TH ST, STE 1300
AUSTIN, TX 78701

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/27/2001

Loan Approval Gross Amount

$546,000

Loan Approval from the SBA

Of the total $546,000 loan amount, the SBA guaranteed $409,500.

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 only one employee. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We can help you find the best banks for small businesses in Hilton Head Island or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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