Firm Gets a Tennessee Business Loan

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

You can learn something about getting a small business loan in Chattanooga, Tennessee by studying this loan to a local company, made back in 2003. Banks like Gateway Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD PALLETS AND SKIDS
CHATTANOOGA, TN 37407

SBA Loan Lender

GATEWAY BANK & TRUST
769 BATTLEFIELD PKWY
FORT OGLETHORPE, GA 30742

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2448 - Wood Pallets and Skids

NAICS Code

321920 - Wood Container and Pallet Manufacturing

Loan Approval Date

6/30/2003

Loan Approval Gross Amount

$1,031,000

Loan Approval from the SBA

Of the total $1,031,000 loan amount, the SBA guaranteed $773,250.

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 30 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Business Line of Credit

SBA Approved Banks in Fort Oglethorpe, Georgia

Georgia SBA Banks