Regions Bank Provides SBA Loan to Buy Murphy's Deli Franchise

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

Want to borrow money to buy a Murphy's Deli franchise? If so, here's a 2003 SBA franchise loan that you should know about. Regions Bank was the lender and the entrepreneur was based in Austin, Texas.

SBA Loan Borrower

MURPHY'S DELI
111 CONGRESS AVE
AUSTIN, TX 78701

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 minimize the paperwork associated with appliying for an SBA loan . 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

1/10/2003

Loan Approval Gross Amount

$111,600

Loan Approval from the SBA

Of the total $111,600 loan amount, the SBA guaranteed $94,860.

More Information on This SBA Loan

The borrower, Murphy's Deli, 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 4 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Austin TX, you ought to talk with a local Austin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Austin businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Regions Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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