Growing Company Gets a Tennessee Bank Loan

Looking to get a Tennessee bank loan? This Tennessee entrepreneur got a bank loan, provided by a Tennessee bank that works with the SBA to help small business owners.

Getting a small business loan in Chattanooga, Tennessee was a top priority for this loan applicant back in 2007 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: FULL-SERVICE RESTAURANTS
CHATTANOOGA, TN 37402

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
728 BROAD ST
CHATTANOOGA, TN 37402

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722110 - Full-Service Restaurants

Loan Approval Date

12/28/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 55 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 45 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Volunteer Bank - Tennessee 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.

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