Bradenton, FL Entrepreneur Gets SBA Loan to Buy Hometown Threads Franchise

Need a loan to buy a Hometown Threads franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Hometown Threads franchise? If so, here's a 2002 SBA franchise loan that you should know about. Regions Bank was the lender and the entrepreneur was based in Bradenton, Florida.

SBA Loan Borrower

HOMETOWN THREADS
BRADENTON, FL 34210

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5949 - Sewing, Needlework, and Piece Goods Stores

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

3/15/2002

Loan Approval Gross Amount

$134,500

Loan Approval from the SBA

Of the total $134,500 loan amount, the SBA guaranteed $114,325.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hometown Threads franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Regions 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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