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May 2, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Bread, Cake, And Related Bakery Products Loan | ||||
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SBA Lender Memphis, Tennessee
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Memphis, Tennessee Bank Gives SBA Loan to Bread, Cake, And Related Bakery Products CompanyA Memphis, Tennessee small business loan can be yours. Learn how a company got a $396,000 business loan from this Tennessee bank. This loan to an entrepreneur is a good example of an SBA loan. Regions Bank made the loan and the SBA guaranteed a portion of the loan. Many other Florida entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS SBA Loan Lender REGIONS BANK This loan for a small business was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2051 - Bread, Cake, and Related Bakery Products NAICS Code 311812 - Commercial Bakeries Loan Approval Date 10/15/2001 Loan Approval Gross Amount $396,000 Loan Approval from the SBA Of the total $396,000 loan amount, the SBA guaranteed $297,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 68 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 - How to Borrow Money
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