Larkspur, CA Entrepreneur Gets SBA Loan to Buy Melting Pot Franchise

Need money to invest in a Melting Pot franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Larkspur, California needed money to invest in a Melting Pot franchise back in 2004. Comerica Bank issued an SBA franchise loan. Here are the details on this California small business loan.

SBA Loan Borrower

NORTHBAY FONDUE, LLC
LARKSPUR, CA 94939

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

722110 - Full-Service Restaurants

Loan Approval Date

9/23/2004

Loan Approval Gross Amount

$948,000

Loan Approval from the SBA

Of the total $948,000 loan amount, the SBA guaranteed $711,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Melting Pot franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

Related Links:

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Microlending as a Small Business Funding Source

SBA Approved Banks in Dallas, Texas

Texas SBA 7A Banks