Murfreesboro, Tennessee Lender Lends Money to Eating Places Company

Thinking about meeting with a Murfreesboro, Tennessee bank about a small business loan? Here's one Tennessee business loan, issued by a Murfreesboro bank, that was approved by the SBA.

Applying for an SBA loan with Pinnacle National Bank worked out well for our friends at one local company in Franklin, Tennessee. They got an SBA loan for $100,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
FRANKLIN, TN 37067

SBA Loan Lender

PINNACLE NATIONAL BANK
114 W COLLEGE ST
MURFREESBORO, TN 37130

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/28/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Pinnacle National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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