Loan to Buy Steak-Out Franchise Issued By First Tennessee Bank

Need a loan to buy a Steak-Out franchise? First Tennessee Bank has a history of making these loans and they are guaranteed by the SBA.

Steak-Out franchise loans are available to Memphis, Tennessee entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Tennessee Bank, based in Knoxville, Tennessee, issued an SBA franchise loan for a Steak-Out franchise in 2006. We've got all the details on this Tennessee small business loan.

SBA Loan Borrower

STEAK OUT MEMPHIS
MEMPHIS, TN 38018

SBA Loan Lender

FIRST TENNESSEE BANK
9615 KROGER PARK DR
KNOXVILLE, TN 37922

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/6/2006

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Steak-Out franchise. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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

Steak-Out Franchising, Inc.

Find Start-Up Capital

Best Knoxville, Tennessee Banks for Small Business

Find an SBA Lender in Tennessee