Tennessee Entrepreneur Secures Financing to Buy Bath Junkie Franchise

Need money to invest in a Bath Junkie franchise? First Tennessee Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Bath Junkie franchise requires some effort but others before you have been successful. In 2003, First Tennessee Bank issued an SBA franchise loan to an entrepreneur in Memphis, Tennessee. Because Bath Junkie was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

BATH JUNKIE
MEMPHIS, TN 38103

SBA Loan Lender

FIRST TENNESSEE BANK
165 MADISON, 1ST FL
MEMPHIS, TN 38103

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

9/29/2003

Loan Approval Gross Amount

$56,200

Loan Approval from the SBA

Of the total $56,200 loan amount, the SBA guaranteed $47,770.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Bath Junkie franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Tennessee Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Tennessee 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:

Bath Junkie

The Friends and Family Network

SBA 7A Lenders in Memphis, Tennessee

SBA Participating Banks in Tennessee