Business Loan from Patriot Bank Given to Drinking Places Company

Patriot 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 growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Patriot Bank, out of Millington, Tennessee. The loan was granted and they received $186,900 to help grow their Bartlett, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
BARTLETT, TN 38134

SBA Loan Lender

PATRIOT BANK
8376 HWY 51 NORTH
MILLINGTON, TN 38053

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

3/2/2006

Loan Approval Gross Amount

$186,900

Loan Approval from the SBA

Of the total $186,900 loan amount, the SBA guaranteed $140,175.

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 15 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

We can help you find the best banks for small businesses in Bartlett or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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 Millington, Tennessee

SBA Participating Banks in Tennessee