First Farmers & Merchants Bk SBA Loan to Welding Repair Company

First Farmers & Merchants Bk 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.

Getting a small business loan in Centerville, Tennessee was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Farmers & Merchants Bk, operating out of Columbia, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: WELDING REPAIR
CENTERVILLE, TN 37033

SBA Loan Lender

FIRST FARMERS & MERCHANTS BK
816 S GARDEN ST
COLUMBIA, TN 38401

This lender issued this particular 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

7692 - Welding Repair

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

10/2/2000

Loan Approval Gross Amount

$7,000

Loan Approval from the SBA

Of the total $7,000 loan amount, the SBA guaranteed $5,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Centerville 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.

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