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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Temecula, Business Loans > Temecula Valley Bank Temecula Business Loans > Eating Places Loan | ||||
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I Need a Business Loan in Franklin, Tennessee
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Borrowing Money for Limited-Service RestaurantsLooking for small business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $560,000 limited-service restaurants loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Franklin, Tennessee was able to borrow $560,000 from Temecula Valley Bank. The SBA made the loan possible by guaranteeing $420,000 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender TEMECULA VALLEY BANK This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/15/2001 Loan Approval Gross Amount $560,000 Loan Approval from the SBA Of the total $560,000 loan amount, the SBA guaranteed $420,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $560,000 loan. Remember, where there is a will, there is a way! 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: The Friends and Family Network Who Lends Money to Small Businesses in Temecula, California
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