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May 9, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Educational Support Services Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Educational Support Services Commercial LoansLooking for commercial loans for educational support services? The SBA may be the answer. This $33,000 educational support services loan was issued by a Tennessee bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ballwin, Missouri was able to borrow $33,000 from Regions Bank. The SBA made the loan possible by guaranteeing $28,050 of this Missouri small business loan. SBA Loan Borrower COMPANY TYPE: EDUCATIONAL SUPPORT SERVICES SBA Loan Lender REGIONS BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611710 - Educational Support Services Loan Approval Date 11/16/2004 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $28,050. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Regions Bank and they will explain how you can get an SBA loan for your company. 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: Accountant's Role in Securing Financing Find an SBA Lender in Memphis, Tennessee
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