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May 5, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Collierville, Business Loans > Banktennessee Collierville Business Loans > Limited-Service Restaurants Loan | ||||
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Raising Money in Memphis, Tennessee With SBA Loans
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Limited-Service Restaurants LoansLooking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $110,000 limited-service restaurants loan was issued by a Tennessee bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $110,000 from Banktennessee. The SBA made the loan possible by guaranteeing $82,500 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender BANKTENNESSEE This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/17/2000 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $82,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Banktennessee so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: The Friends and Family Network Good Banks for Small Business in Collierville, Tennessee
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