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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Humboldt, Business Loans > The Farmers & Merchants Bank Humboldt Business Loans > Snappy Tomato Pizza Loan | ||||
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SBA Franchise Lenders in Tennessee
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Tennessee Entrepreneur Secures Financing to Buy Snappy Tomato Pizza Company FranchiseBorrowing money to invest in a Snappy Tomato Pizza Company franchise? The Farmers & Merchants Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Oakfield, Tennessee needed money to invest in a Snappy Tomato Pizza Company franchise back in 2000. The Farmers & Merchants Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower SNAPPY TOMATO PIZZA SBA Loan Lender THE FARMERS & MERCHANTS BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/17/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Snappy Tomato Pizza Company franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Farmers & Merchants Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Farmers & Merchants 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: Best Banks for Small Business in Humboldt, Tennessee
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