First Volunteer Bank - Tennessee Gives SBA Loan to Liquor Stores Company

TennesseeBank loans are available to Tennessee firms through the SBA. In this case, a Tennessee bank provides the loan.

This business, based in Chattanooga, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Volunteer Bank - Tennessee. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
CHATTANOOGA, TN 37402

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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

Related Links:

Alternative Financing

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SBA Lenders in Tennessee