Toy and Hobby Goods and Supplies Merchant Wholesalers Commercial Loans

With these commercial loans for toy and hobby goods and supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This toy and hobby goods and supplies merchant wholesalers loan for $100,000 was given to a Tennessee entrepreneur in 2008.

Getting a small business loan in Chattanooga, Tennessee was important for this business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from First Volunteer Bank - Tennessee, operating out of Chattanooga, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: TOY AND HOBBY GOODS AND SUPPLIES MERCHANT WHOLESALERS
CHATTANOOGA, TN 37410

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.

NAICS Code

423920 - Toy and Hobby Goods and Supplies Merchant Wholesalers

Loan Approval Date

1/16/2008

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Volunteer Bank - Tennessee had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Volunteer Bank - Tennessee made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

The Friends and Family Network

Best Banks for Small Business in Chattanooga, Tennessee

Tennessee SBA Banks