Loan to Buy Mellow Mushroom Franchise Issued By Suntrust Bank

Need money to invest in a Mellow Mushroom franchise? Suntrust Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Knoxville, Tennessee needed money to invest in a Mellow Mushroom franchise back in 2000. Suntrust Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

PI-MAN, INC.
KNOXVILLE, TN 37922

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/6/2000

Loan Approval Gross Amount

$420,000

Loan Approval from the SBA

Of the total $420,000 loan amount, the SBA guaranteed $315,000.

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 40 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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