Tennessee Entrepreneur Secures Financing to Buy Mellow Mushroom Franchise

Need 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 Murfreesboro, Tennessee needed money to invest in a Mellow Mushroom franchise back in 2005. Comerica Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

MELLOW MUSHROOM-MURFREESBORO
MURFREESBORO, TN 37130

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/27/2005

Loan Approval Gross Amount

$773,000

Loan Approval from the SBA

Of the total $773,000 loan amount, the SBA guaranteed $579,750.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 50 new jobs and retain 52 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Murfreesboro 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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