Suntrust Service Corporation SBA Loan to Offices And Clinics Of Doctors Of Medicine Company

Looking to get a Tennessee business loan? Here's one Tennessee business loan that was approved by the SBA.

This small business needed an SBA business loan in Brentwood, Tennessee back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Suntrust Service Corporation, operating out of Nashville, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE
BRENTWOOD, TN 37027

SBA Loan Lender

SUNTRUST SERVICE CORPORATION
41 RACHEL DR
NASHVILLE, TN 37214

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8011 - Offices and Clinics of Doctors of Medicine

Loan Approval Date

5/8/2000

Loan Approval Gross Amount

$108,000

Loan Approval from the SBA

Of the total $108,000 loan amount, the SBA guaranteed $81,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Service Corporation that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Equity Financing

Who Lends Money to Small Businesses in Nashville, Tennessee

Getting a Business Loan in Tennessee