Commercial Loans for Support Services
With these commercial loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $31,000 was given to a Tennessee entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in College Grove, Tennessee was able to borrow $31,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $15,500 of this Tennessee small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPPORT SERVICES
COLLEGE GROVE, TN 37046
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
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
561990 - Support Services
Loan Approval Date
9/12/2003
Loan Approval Gross Amount
$31,000
Loan Approval from the SBA
Of the total $31,000 loan amount, the SBA guaranteed $15,500.
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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like U.S. Bank National Association and they will explain how you can get an SBA loan for your company.
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:
Choosing VC Firms
Who Lends Money to Small Businesses in Cincinnati, Ohio
Ohio SBA 7A Lenders