SBA Loan from Volunteer State Bank Helps Carwashes Company

An SBA loan from Volunteer State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gallatin, Tennessee business owner got a $788,100 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gallatin, Tennessee was able to borrow $788,100 from Volunteer State Bank. The SBA made the loan possible by guaranteeing $591,075 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: CARWASHES
GALLATIN, TN 37066

SBA Loan Lender

VOLUNTEER STATE BANK
239 W MAIN ST
HENDERSONVILLE, TN 37075

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7542 - Carwashes

NAICS Code

811192 - Car Washes

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$788,100

Loan Approval from the SBA

Of the total $788,100 loan amount, the SBA guaranteed $591,075.

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 add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Volunteer State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Volunteer State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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