Antioch, Tennessee Business Gets SBA-Guaranteed Funding from Suntrust Bank

Suntrust Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Suntrust Bank, out of Florence, Alabama. The loan was granted and they received $62,800 to help grow their Antioch, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
ANTIOCH, TN 37013

SBA Loan Lender

SUNTRUST BANK
201 S COURT ST
FLORENCE, AL 35630

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

3/29/2000

Loan Approval Gross Amount

$62,800

Loan Approval from the SBA

Of the total $62,800 loan amount, the SBA guaranteed $50,240.

More Information on This SBA Loan

The borrower 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 6 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Antioch TN, you ought to talk with a local Antioch SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Antioch businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Suntrust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Suntrust Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Startup Funding Tip

Small Bank Loans in Florence, Alabama

Getting an SBA Loan in Alabama