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November 14, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > First Tennessee Bank Memphis Business Loans > Smoothie King Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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First Tennessee Bank Provides SBA Loan to Buy Smoothie King health Food Store FranchiseBorrowing money to buy a Smoothie King health Food Store franchise? First Tennessee Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Memphis, Tennessee needed money to invest in a Smoothie King health Food Store franchise back in 2005. First Tennessee Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower SMOOTHIE KING SBA Loan Lender FIRST TENNESSEE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. 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 6/6/2005 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Smoothie King health Food Store franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Tennessee Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Banks in Memphis, Tennessee
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