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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Columbia, Business Loans > Community First Bank And Trust Columbia Business Loans > Full-Service Restaurants Loan | ||||
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Getting an SBA Loan from Community First Bank And Trust
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SBA Loan from Community First Bank And Trust Helps Full-Service Restaurants CompanyCommunity First Bank And Trust has a track record as a leading provider of SBA loans. Find out how this Tennessee entrepreneur received an SBA loan from them. Getting a small business loan in Columbia, Tennessee was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Community First Bank And Trust, operating out of Columbia, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMUNITY FIRST BANK AND TRUST This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/3/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 50 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Small Bank Loans in Columbia, Tennessee
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