Business Loans for Tire and Tube Merchant Wholesalers

With these business loans for tire and tube merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This tire and tube merchant wholesalers loan for $41,725 was given to a Tennessee entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Greeneville, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Tennessee Bank, based in Greeneville, Tennessee.

SBA Loan Borrower

COMPANY TYPE: TIRE AND TUBE MERCHANT WHOLESALERS
GREENEVILLE, TN 37743

SBA Loan Lender

FIRST TENNESSEE BANK
2841 EAST ANDREW JOHNSON
GREENEVILLE, TN 37745

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423130 - Tire and Tube Merchant Wholesalers

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$41,725

Loan Approval from the SBA

Of the total $41,725 loan amount, the SBA guaranteed $35,466.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. 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 funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Related Links:

Famous Venture Capitalists

Who Lends Money to Small Businesses in Greeneville, Tennessee

SBA Tennessee Lenders