Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

What Does It Take to Get a Business Loan in Memphis, Tennessee?

 

 
Loan Census SBA Loan Info

Health and Personal Care Stores Business Loans

With these business loans for health and personal care stores, the SBA guarantees the lender that the loan will be repaid. This health and personal care stores loan for $5,000 was given to a Tennessee entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Superior Financial Group, LLC, based in Walnut Creek, California.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND PERSONAL CARE STORES
MEMPHIS, TN 38119

SBA Loan Lender

SUPERIOR FINANCIAL GROUP, LLC
165 LENNON LANE, SUITE 101
WALNUT CREEK, CA 94598

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446199 - Health and Personal Care Stores

Loan Approval Date

9/12/2007

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $4,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Incubators

Small Bank Loans in Walnut Creek, California

Browse All Business Loan Sources for California