Optical Goods Stores Commercial Loans

With these commercial loans for optical goods stores, the SBA guarantees the lender that the loan will be repaid. This optical goods stores loan for $150,000 was given to a Tennessee entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Regions Bank, out of Crossville, Tennessee. The loan was granted and they received $150,000 to help grow their Crossville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
CROSSVILLE, TN 38555

SBA Loan Lender

REGIONS BANK
392 N MAIN ST
CROSSVILLE, TN 38555

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5995 - Optical Goods Stores

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

4/11/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding From a Venture Capitalist

Small Business Banks in Crossville, Tennessee

SBA Participating Banks in Tennessee