Raising Money for Ophthalmic Goods Manufacturing

With these bank loans for ophthalmic goods manufacturing, the SBA guarantees the lender that the loan will be repaid. This ophthalmic goods manufacturing loan for $100,000 was given to a Tennessee entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Pinnacle National Bank, out of Mount Juliet, Tennessee. The loan was granted and they received $100,000 to help grow their Ashland City, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: OPHTHALMIC GOODS MANUFACTURING
ASHLAND CITY, TN 37015

SBA Loan Lender

PINNACLE NATIONAL BANK
551 N MT JULIET RD
MOUNT JULIET, TN 37122

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

339115 - Ophthalmic Goods Manufacturing

Loan Approval Date

7/6/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 this company walked into Pinnacle National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Mount Juliet, Tennessee

Tennessee SBA 7A Banks