Business Loan from Tennessee Business & Indust Devel Given to Eating Places Company

Tennessee Business & Indust Devel and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Tennessee Business & Indust Devel, based in Paris, Tennessee.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MEMPHIS, TN 38117

SBA Loan Lender

TENNESSEE BUSINESS & INDUST DEVEL
1301 E. WOOD STREET, P.O. BOX
PARIS, TN 37402

This lender issued this commercial loan under the 7A SBA program, 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

722110 - Full-Service Restaurants

Loan Approval Date

2/25/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

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

If you are raising money in Memphis TN, you ought to talk with a local Memphis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Memphis businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Understanding Dilution

SBA Banks in Paris, Tennessee

Tennessee SBA 7A Banks