Michigan Entrepreneur Secures Financing 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 Troy, Michigan 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 Michigan small business loan.

SBA Loan Borrower

THE MELTING POT
TROY, MI 48084

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

722110 - Full-Service Restaurants

Loan Approval Date

9/29/2004

Loan Approval Gross Amount

$965,800

Loan Approval from the SBA

Of the total $965,800 loan amount, the SBA guaranteed $724,350.

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. This SBA loan request indicated that the loan would help generate 40 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Troy MI, you ought to talk with a local Troy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Troy businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $965,800 loan. Remember, where there is a will, there is a way!

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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