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May 4, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Knoxville, Business Loans > Suntrust Bank Knoxville Business Loans > Tcby Treats Loan | ||||
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Suntrust Bank Franchise Business Loans
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Suntrust Bank Provides SBA Loan to Buy Tcby FranchiseNeed money to purchase a Tcby 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 Tcby franchise back in 2000. Suntrust Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower TCBY TREATS SBA Loan Lender SUNTRUST BANK This was a Low Documentation SBA loan. The SBA created 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 6/15/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Tcby franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Suntrust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Suntrust Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA 7A Banks in Knoxville, Tennessee
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