Parsons, Tennessee Bank Gives SBA Loan to Car Washes Company
Get business loans from a Parsons, Tennessee bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
Community So. Bank D.B.A Commun is a Parsons, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to an Alabama company.
SBA Loan Borrower
COMPANY TYPE: CAR WASHES
Bessemer, AL 35020
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811192 - Car Washes
Loan Approval Date
5/9/2007
Loan Approval Gross Amount
$53,300
Loan Approval from the SBA
Of the total $53,300 loan amount, the SBA guaranteed $26,650.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.
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.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Small Business Loan
Good Banks for Small Business in Parsons, Tennessee
Getting an SBA Loan in Tennessee