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May 9, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Homefurnishings Stores Loan | ||||
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Tennessee Bank SBA Loans
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Regions Bank SBA Loan to Homefurnishings Stores CompanyLooking to get a Kentucky small business loan? Here's one Kentucky business loan that was approved by the SBA. This small business needed an SBA business loan in Paducah, Kentucky back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Regions Bank, operating out of Memphis, Tennessee. Here are the details on this Kentucky small business loan. SBA Loan Borrower COMPANY TYPE: HOMEFURNISHINGS STORES 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 5719 - Homefurnishings Stores Loan Approval Date 6/28/2000 Loan Approval Gross Amount $148,000 Loan Approval from the SBA Of the total $148,000 loan amount, the SBA guaranteed $111,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Regions Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Advice on Getting a Small Business Loan Best Memphis, Tennessee Banks for Small Business
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