Business Loan from Jefferson Federal Bank Given to Beauty Salons Company

An SBA loan from Jefferson Federal Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Greenback, Tennessee business owner got a $31,500 loan.

This growing company knew how to go about getting a business bank loan. Based in Greenback, Tennessee, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Jefferson Federal Bank, based in Morristown, Tennessee.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
GREENBACK, TN 37742

SBA Loan Lender

JEFFERSON FEDERAL BANK
120 EVANS AVE
MORRISTOWN, TN 37814

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

812112 - Beauty Salons

Loan Approval Date

4/23/2007

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $15,750.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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