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November 22, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Air Purification Equipment Manufacturing Loan | ||||
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Raising Money in Elizabethton, Tennessee With SBA Loans
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Getting an SBA Loan for Air Purification Equipment ManufacturingWith these commercial loans for air purification equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This air purification equipment manufacturing loan for $980,000 was given to a Tennessee entrepreneur in 2001. Getting a small business loan in Elizabethton, Tennessee was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Merrill Lynch Bank Usa, operating out of Salt Lake City, Utah. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: AIR PURIFICATION EQUIPMENT MANUFACTURING SBA Loan Lender MERRILL LYNCH BANK USA As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333411 - Air Purification Equipment Manufacturing Loan Approval Date 3/29/2001 Loan Approval Gross Amount $980,000 Loan Approval from the SBA Of the total $980,000 loan amount, the SBA guaranteed $735,000. 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 120 employees. The SBA loan application for the borrower indicated that the loan would help retain 120 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Merrill Lynch Bank Usa and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Salt Lake City, Utah
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