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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Birmingham, Business Loans > Regions Bank Birmingham Business Loans > Electrical Apparatus, Equipment, Wiring Supplies And Construction Materials Loan | ||||
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Getting an SBA 7A Loan in Jackson, Tennessee
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Jackson, Tennessee Entrepreneur Gets an SBA LoanTennesseeSmall business loans are available to Tennessee small business owners through the SBA. In this case, an Alabama bank provides the loan. By giving the right information to Regions Bank, this Jackson, Tennessee business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: ELECTRICAL APPARATUS, EQUIPMENT, WIRING SUPPLIES AND CONSTRUCTION MATERIALS SBA Loan Lender REGIONS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421610 - Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials Loan Approval Date 2/16/2005 Loan Approval Gross Amount $665,000 Loan Approval from the SBA Of the total $665,000 loan amount, the SBA guaranteed $598,500. 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 18 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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. Related Links: Obtaining Funding From a Venture Capitalist Best Banks for Small Business in Birmingham, Alabama
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