Insurance Agencies and Brokerages Bank Loans

With these bank loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $104,500 was given to a Tennessee entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Cumberland Bank & Trust, out of Clarksville, Tennessee. The loan was granted and they received $104,500 to help grow their Clarksville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
CLARKSVILLE, TN 37040

SBA Loan Lender

CUMBERLAND BANK & TRUST
2034 WILMA RUDOLPH BLVD
CLARKSVILLE, TN 37040

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

6411 - Insurance Agents and Brokers

NAICS Code

524210 - Insurance Agencies and Brokerages

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$104,500

Loan Approval from the SBA

Of the total $104,500 loan amount, the SBA guaranteed $88,825.

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 did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cumberland Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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SBA Participating Banks in Clarksville, Tennessee

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