Get an SBA Loan for Support Services

With these small business loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $750,000 was given to a Tennessee entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Goodlettsville, Tennessee was able to borrow $750,000 from Suntrust Bank. The SBA made the loan possible by guaranteeing $562,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
GOODLETTSVILLE, TN 37072

SBA Loan Lender

SUNTRUST BANK
1026 17TH AVE SOUTH
NASHVILLE, TN 37212

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561990 - Support Services

Loan Approval Date

11/14/2001

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 74 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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