Memphis, Tennessee Bank Gives SBA Loan to South Florida Bakery, Inc.

A Memphis, Tennessee small business loan can be yours. Learn how South Florida Bakery, Inc. got a $396,000 business loan from this Tennessee bank.

This loan to South Florida Bakery, Inc. is a good example of an SBA loan. Regions Bank made the loan and the SBA guaranteed a portion of the loan. Many other Florida entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

SOUTH FLORIDA BAKERY, INC.
14159 SW 144 ST
MIAMI, FL 33186

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This loan for a small business was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2051 - Bread & Other Bakery Products, Except Cookies & Cr

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

10/15/2001

Loan Approval Gross Amount

$396,000

Loan Approval from the SBA

Of the total $396,000 loan amount, the SBA guaranteed $297,000.

More Information on This SBA Loan

The borrower, South Florida Bakery, Inc., 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 68 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. This loan was paid in full, and was closed out on 9/22/2006.

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 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 SBA loan database.

Related Links:

Obtaining Funding - How to Borrow Money

Banks in Memphis, Tennessee

SBA Lenders in Tennessee

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