Local Business Gets a Tennessee SBA Loan

Would a Tennessee business loan help your company expand? If so, you may want to talk with this Tennessee bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Chattanooga, Tennessee was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Volunteer Bank - Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: BLANKBOOKS, LOOSELEAF BINDERS AND DEVICES
CHATTANOOGA, TN 37421

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
5109 HIXSON PIKE
HIXSON, TN 37343

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

2782 - Blankbooks, Looseleaf Binders and Devices

NAICS Code

323118 - Blankbook, Looseleaf Binders, and Devices Manufacturing

Loan Approval Date

6/6/2001

Loan Approval Gross Amount

$111,600

Loan Approval from the SBA

Of the total $111,600 loan amount, the SBA guaranteed $94,860.

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 12 employees. The SBA loan documents 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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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