Getting an SBA Loan for Site Preparation Contractors

With these commercial loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $325,000 was given to a Tennessee entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Ashland City, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Pinnacle National Bank, based in Mount Juliet, Tennessee.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
ASHLAND CITY, TN 37015

SBA Loan Lender

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

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

238910 - Site Preparation Contractors

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $162,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the funding would help generate 10 new jobs.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pinnacle National Bank and they will explain how you can get an SBA loan for your company.

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:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Mount Juliet, Tennessee

Tennessee SBA 7A Banks