Brentwood, TN Entrepreneur Gets SBA Loan to Buy Closets By Design Franchise

Need a loan to buy a Closets By Design franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Closets By Design franchise shouldn't be overly burdensome. In 2000, Fifth Third Bank issued an SBA franchise loan to an entrepreneur in Brentwood, Tennessee. Because Closets By Design was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

CLOSETS BY DESIGN OF NASHVILLE
BRENTWOOD, TN 37027

SBA Loan Lender

FIFTH THIRD BANK
424 CHURCH ST, STE 700
NASHVILLE, TN 37219

This lender issued this particular small business 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

1751 - Carpentry Work

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Closets By Design franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Closets By Design

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Where to Get an SBA Loan in Nashville, Tennessee

Find an SBA Lender in Tennessee