Regions Bank SBA Loan to Full-Service Restaurants Company

An SBA loan from Regions Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Memphis, Tennessee business owner got a $153,300 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $153,300 from Regions Bank. The SBA made the loan possible by guaranteeing $76,650 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Memphis, TN 38107

SBA Loan Lender

REGIONS BANK
417 NORTH 20TH ST
BIRMINGHAM, AL 35203

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/9/2007

Loan Approval Gross Amount

$153,300

Loan Approval from the SBA

Of the total $153,300 loan amount, the SBA guaranteed $76,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Regions 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.

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