Electrical Equipment and Component Manufacturing Commercial Loans

Looking for commercial loans for electrical equipment and component manufacturing? An SBA loan may be just what you've been looking for. This $1,550,000 electrical equipment and component manufacturing loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dyersburg, Tennessee was able to borrow $1,550,000 from Security Bank. The SBA made the loan possible by guaranteeing $1,162,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: CURRENT-CARRYING WIRING DEVICES
DYERSBURG, TN 38024

SBA Loan Lender

SECURITY BANK
120 N MILL AVE
DYERSBURG, TN 38024

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3643 - Current-Carrying Wiring Devices

NAICS Code

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

3/18/2005

Loan Approval Gross Amount

$1,550,000

Loan Approval from the SBA

Of the total $1,550,000 loan amount, the SBA guaranteed $1,162,500.

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 26 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Security Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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SBA Participating Banks in Tennessee