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April 27, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Birmingham, Business Loans > Regions Bank Birmingham Business Loans > Full-Service Restaurants Loan | ||||
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How to Get a Business Loan in Memphis, Tennessee
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Company Gets a Tennessee Bank LoanSearching for a Tennessee SBA loan? This Tennessee entrepreneur got an SBA loan, provided by an Alabama bank that works with the SBA to help small business owners. Getting a small business loan in Memphis, Tennessee was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender REGIONS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/21/2005 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Birmingham, Alabama Getting an SBA Loan in Alabama
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