Collierville, TN Entrepreneur Gets SBA Loan to Buy Pickerman's Franchise

Need a loan to purchase a Pickerman's franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pickerman's franchise is doable. In 2002, Regions Bank issued an SBA franchise loan to an entrepreneur in Collierville, Tennessee. Because Pickerman's was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

PICKERMAN'S
COLLIERVILLE, TN 38017

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/27/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pickerman's franchise. At the time of the loan, the company had 15 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Regions Bank and they will explain how you can get an SBA loan for your company.

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

Small Bank Loans in Memphis, Tennessee

SBA Lenders in Tennessee