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May 9, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Automotive Services Loan | ||||
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Getting an SBA 7A Loan in West Plains, Missouri
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Regions Bank Gives Bank Loan to Automotive Services CompanySearching for a Missouri business loan? This Missouri entrepreneur got a business loan, provided by a Tennessee bank that works with the SBA to help small business owners. By giving the right information to Regions Bank, this West Plains, Missouri business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender REGIONS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services NAICS Code 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 2/12/2002 Loan Approval Gross Amount $1,013,800 Loan Approval from the SBA Of the total $1,013,800 loan amount, the SBA guaranteed $760,350. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 10 new jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, 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: Dealing With Venture Capitalists SBA Approved Banks in Memphis, Tennessee
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