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May 9, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Gift, Novelty, And Souvenir Shops Loan | ||||
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Regions Bank SBA 7A Loans
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Loans for Gift, Novelty, and Souvenir StoresWith these loans for gift, novelty, and souvenir stores, the SBA guarantees the lender that the loan will be repaid. This gift, novelty, and souvenir stores loan for $133,000 was given to a Florida entrepreneur in 2002. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Regions Bank, out of Memphis, Tennessee. The loan was granted and they received $133,000 to help grow their Naples, Florida business. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS SBA Loan Lender REGIONS BANK 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 5947 - Gift, Novelty, and Souvenir Shops NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 6/21/2002 Loan Approval Gross Amount $133,000 Loan Approval from the SBA Of the total $133,000 loan amount, the SBA guaranteed $113,050. 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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Regions Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Regions 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: Microlending as a Small Business Funding Source Best Banks for Small Business in Memphis, Tennessee
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