First Farmers & Merchants Bk Gives Bank Loan to General Merchandise Stores Company

Bank loans in Tennessee are hard to find these days. We take a look at one Tennessee bank 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 2005. Banks like First Farmers & Merchants Bk may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
FRANKLIN, TN 37064

SBA Loan Lender

FIRST FARMERS & MERCHANTS BK
816 S GARDEN ST
COLUMBIA, TN 38401

This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

5/13/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Farmers & Merchants Bk are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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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