Loan to Buy Melting Pot Franchise Issued By Comerica Bank

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

An entrepreneur in Raleigh, North Carolina needed money to invest in a Melting Pot franchise back in 2002. Comerica Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

THE MELTING POT
RALEIGH, NC 27609

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

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

9/24/2002

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

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 loan application indicated that the loan would help generate 30 new jobs and retain 32 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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SBA Participating Banks in Texas