First Tennessee Bank Provides SBA Loan to Buy Heel Quik shoe Repair Franchise

Borrowing money to purchase a Heel Quik shoe Repair franchise? First Tennessee Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Heel Quik shoe Repair franchise may simply require a phone call to a local SBA banker. In 2001, First Tennessee Bank issued an SBA franchise loan to an entrepreneur in Knoxville, Tennessee. Because Heel Quik shoe Repair was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

HEEL QUICK
KNOXVILLE, TN 37919

SBA Loan Lender

FIRST TENNESSEE BANK
9615 KROGER PARK DR
KNOXVILLE, TN 37922

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448210 - Shoe Stores

Loan Approval Date

1/3/2001

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Heel Quik shoe Repair franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Tennessee Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Heel Quik! Inc.

Business Incubators

SBA 7A Lenders in Knoxville, Tennessee

Tennessee SBA 7A Lenders