First Volunteer Bank - Tennessee Gives Business Loan to Roofing, Siding, And Insulation Materials Company

Business loans in Tennessee are tough to come by these days. We take a look at one Tennessee business loan, provided by a Tennessee bank, that was approved by the SBA.

By giving the right information to First Volunteer Bank - Tennessee, this Ethridge, Tennessee business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND INSULATION MATERIALS
ETHRIDGE, TN 38456

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
728 BROAD ST
CHATTANOOGA, TN 37402

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5033 - Roofing, Siding, and Insulation Materials

NAICS Code

423330 - Roofing, Siding, and Insulation Material Merchant Wholesalers

Loan Approval Date

4/27/2004

Loan Approval Gross Amount

$509,375

Loan Approval from the SBA

Of the total $509,375 loan amount, the SBA guaranteed $382,031.

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 65 employees. The loan application did not indicate that the small business promised to use the money 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.

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 Volunteer 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.

Related Links:

Small Business Loan

Small Bank Loans in Chattanooga, Tennessee

Tennessee SBA Bank Lenders