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November 14, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Personal Services Loan | ||||
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How to Get SBA Money in Chattanooga, Tennessee
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Firm Gets a Tennessee Bank LoanSmall business loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee small business loan, provided by a Virginia bank, that was approved by the SBA. You can learn something about getting a small business loan in Chattanooga, Tennessee by studying this loan to a local company, made back in 2007. Banks like Suntrust Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender SUNTRUST BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 812990 - Personal Services Loan Approval Date 11/5/2007 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 no employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, you 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. 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 Suntrust Bank 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: Small Business Banks in Richmond, Virginia
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