Tennessee Business Loan Issued to Retail Stores Company

SBA loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee SBA loan, provided by a Tennessee bank, that was approved by the SBA.

This business, based in Cookeville, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank - Tennessee. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
COOKEVILLE, TN 38501

SBA Loan Lender

FIRST NATIONAL BANK - TENNESSEE
412 S JEFFERSON AVE
COOKEVILLE, TN 38501

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

5999 - Retail Stores

NAICS Code

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

4/6/2006

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 First National Bank - Tennessee 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.

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Who Lends Money to Small Businesses in Cookeville, Tennessee

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