Woodlands, TX Entrepreneur Gets SBA Loan to Buy Murphy's Deli Franchise

Borrowing money to invest in a Murphy's Deli franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Murphy's Deli franchise loans are available to Woodlands, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Regions Bank, based in Montgomery, Alabama, issued an SBA franchise loan for a Murphy's Deli franchise in 2003. We've got all the details on this Texas small business loan.

SBA Loan Borrower

MURPHY'S DELI
WOODLANDS, TX 77381

SBA Loan Lender

REGIONS BANK
1751 CONGRESSMAN DICKINSON DR
MONTGOMERY, AL 36109

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/25/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Murphy's Deli franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

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.

Related Links:

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in Montgomery, Alabama

SBA Alabama Lenders