Loan to Buy Mellow Mushroom Franchise Issued By Comerica Bank

Borrowing money to buy a Mellow Mushroom franchise? Comerica Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mellow Mushroom franchise? If so, here's a 2004 SBA franchise loan that you should know about. Comerica Bank was the lender and the entrepreneur was based in Tallahassee, Florida.

SBA Loan Borrower

MELLOW MUSHROOM
TALLAHASSEE, FL 32304

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

722211 - Limited-Service Restaurants

Loan Approval Date

9/13/2004

Loan Approval Gross Amount

$1,600,000

Loan Approval from the SBA

Of the total $1,600,000 loan amount, the SBA guaranteed $1,200,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 33 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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.

Related Links:

Mellow Mushroom

Microlending as a Small Business Funding Source

SBA Participating Banks in Dallas, Texas

SBA Lenders in Texas