General Merchandise Stores Loans

With these loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $709,600 was given to a Tennessee entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $709,600 from Trust One Bank. The SBA made the loan possible by guaranteeing $532,200 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
MEMPHIS, TN 38115

SBA Loan Lender

TRUST ONE BANK
1715 AARON BRENNER DR, STE 10
MEMPHIS, TN 38120

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

12/13/2004

Loan Approval Gross Amount

$709,600

Loan Approval from the SBA

Of the total $709,600 loan amount, the SBA guaranteed $532,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 110 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Trust One Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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