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| Entrepreneur Resources | Regions Bank Memphis Business Loans | ||||
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Miami, Florida Bank for SBA Loans
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Get an SBA Loan for Mattress ManufacturingWith these small business loans for mattress manufacturing, the SBA guarantees the lender that the loan will be repaid. This mattress manufacturing loan for $1,450,000 was given to a Florida entrepreneur in 2001.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Miami, Florida was able to borrow $1,450,000 from Regions Bank. The SBA made the loan possible by guaranteeing $999,920 of this Florida small business loan. SBA Loan Borrower ROYAL SLEEP PRODUCTS, INC. SBA Loan Lender REGIONS BANK This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 2515 - Mattresses, Foundations, and Convertible Beds NAICS Code 337910 - Mattress Manufacturing Loan Approval Date 3/16/2001 Loan Approval Gross Amount $1,450,000 Loan Approval from the SBA Of the total $1,450,000 loan amount, the SBA guaranteed $999,920. More Information on This SBA Loan The borrower, Royal Sleep Products, Inc., borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 44 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees. This loan was paid in full, and was closed out on 3/31/2005. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as Royal Sleep Products, Inc. walked into Regions Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Accountant's Role in Securing Financing Good Banks for Small Business in Memphis, Tennessee Find an SBA Lender in Tennessee If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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