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November 14, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Transportation Equipment And Supplies Wholesalers Loan | ||||
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Memphis Lenders
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Entrepreneur Works With Memphis, Tennessee Bank to Get an SBA LoanWant to talk with a Memphis, Tennessee bank about an SBA loan? Here's one Florida business loan, issued by a Memphis bank, that was approved by the SBA. Applying for an SBA loan with Regions Bank worked out well for our friends at one local company in Sunrise, Florida. They got an SBA loan for $50,000. Great job! SBA Loan Borrower COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender REGIONS BANK This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 421860 - Transportation Equipment and Supplies Wholesalers Loan Approval Date 12/8/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Memphis, Tennessee
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