Growing Company Gets a Tennessee Small Business Loan

TennesseeBank loans are available to Tennessee firms through the SBA. In this case, a Tennessee bank provides the loan.

Getting a small business loan in Gallatin, Tennessee was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Volunteer State Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTROMEDICAL AND ELECTROTHERAPEUTIC APPARATUS
GALLATIN, TN 37066

SBA Loan Lender

VOLUNTEER STATE BANK
239 W MAIN ST
HENDERSONVILLE, TN 37075

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3845 - Electromedical and Electrotherapeutic Apparatus

NAICS Code

334510 - Electromedical and Electrotherapeutic Apparatus Manufacturing

Loan Approval Date

8/21/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Tennessee SBA Banks