Regions Bank Provides SBA Loan to Buy Radio Shack Franchise

Borrowing money to purchase a Radio Shack franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Central City, Kentucky needed money to invest in a Radio Shack franchise back in 2004. Regions Bank issued an SBA franchise loan. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

SUNRAY HOLDING CO., LLC
CENTRAL CITY, KY 42330

SBA Loan Lender

REGIONS BANK
101 S 4TH ST
MURRAY, KY 42071

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

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332322 - Sheet Metal Work Manufacturing

Loan Approval Date

1/21/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, if it to be, it is up to me!

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.

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