Business Loan from Regions Bank Given to Beauty Shops Company

An SBA loan from Regions Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brentwood, Tennessee business owner got a $48,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brentwood, Tennessee was able to borrow $48,000 from Regions Bank. The SBA made the loan possible by guaranteeing $38,400 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
BRENTWOOD, TN 37027

SBA Loan Lender

REGIONS BANK
417 NORTH 20TH ST
BIRMINGHAM, AL 35203

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/19/2000

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $38,400.

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 12 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $48,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Getting a Small Business Loan

SBA Participating Banks in Birmingham, Alabama

Browse All Business Loan Sources for Alabama