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| Entrepreneur Resources | First Tennessee Bank Memphis Business Loans | ||||
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Miami, Florida Bank for SBA Loans
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First Tennessee Bank Gives Small Business Loan to Revengers.ComBusiness loans in Florida are hard to find these days. We take a look at one Florida business loan, provided by a Tennessee bank, that was approved by the SBA.
Getting a small business loan in Miami, Florida was a top priority for Revengers.Com back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Tennessee Bank. Here are the details on this Florida small business loan. SBA Loan Borrower Revengers.Com SBA Loan Lender FIRST TENNESSEE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 541512 - Computer Systems Design Services Loan Approval Date 4/17/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower, Revengers.Com, borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Tennessee 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 SBA loan database. Related Links: Best Banks in Memphis, 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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