Bristol, Tennessee Business Gets SBA-Guaranteed Funding from 1st Bank & Trust

1st Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Tennessee entrepreneur received an SBA loan from them.

Getting a small business loan in Bristol, Tennessee was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st Bank & Trust, operating out of Bristol, Virginia. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BRISTOL, TN 37620

SBA Loan Lender

1ST BANK & TRUST
38 E VALLEY DR
BRISTOL, VA 24203

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/30/2002

Loan Approval Gross Amount

$130,500

Loan Approval from the SBA

Of the total $130,500 loan amount, the SBA guaranteed $110,925.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to find other ways to get money to start a business, 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.

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