Raising Money for Nondepository Credit Intermediation

With these bank loans for nondepository credit intermediation, the SBA guarantees the lender that the loan will be repaid. This nondepository credit intermediation loan for $100,000 was given to a Tennessee entrepreneur in 2002.

This company 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 2002. The lending bank was Pinnacle National Bank, based in Nashville, Tennessee.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
ASHLAND CITY, TN 37015

SBA Loan Lender

PINNACLE NATIONAL BANK
2019 RICHARD JONES RD
NASHVILLE, TN 37215

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

522298 - Nondepository Credit Intermediation

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Ashland City TN, you ought to talk with a local Ashland City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ashland City businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Angel Investors

Find an SBA Lender in Nashville, Tennessee

Tennessee SBA 7A Lenders