Fifth Third Bank Gives Business Loan to Furniture Stores Company

Small 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 Tennessee bank, that was approved by the SBA.

You can learn something about getting a small business loan in Franklin, Tennessee by studying this loan to a local company, made back in 2004. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
FRANKLIN, TN 37064

SBA Loan Lender

FIFTH THIRD BANK
424 CHURCH ST, STE 700
NASHVILLE, TN 37219

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

2/23/2004

Loan Approval Gross Amount

$52,225

Loan Approval from the SBA

Of the total $52,225 loan amount, the SBA guaranteed $44,391.

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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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