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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > The Melting Pot Loan | ||||
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Advice for Getting a Franchise Loan
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Borrow Money to Buy a Melting Pot FranchiseBorrowing 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 Somerville, New Jersey 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 New Jersey small business loan. SBA Loan Borrower THE MELTING POT SBA Loan Lender COMERICA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/20/2004 Loan Approval Gross Amount $961,000 Loan Approval from the SBA Of the total $961,000 loan amount, the SBA guaranteed $720,750. 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 documents indicated that the loan would help generate 20 new jobs and retain 22 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Melting Pot Fondue Restaurants Small Business Banks in Dallas, Texas
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