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December 21, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Hendersonville, Business Loans > Volunteer State Bank Hendersonville Business Loans > Accounting, Auditing, And Bookkeeping Services Loan | ||||
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Volunteer State Bank
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Business Loan from Volunteer State Bank Given to Accounting, Auditing, And Bookkeeping Services CompanyVolunteer State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Tennessee entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hendersonville, Tennessee was able to borrow $215,000 from Volunteer State Bank. The SBA made the loan possible by guaranteeing $161,250 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: ACCOUNTING, AUDITING, AND BOOKKEEPING SERVICES SBA Loan Lender VOLUNTEER STATE BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8721 - Accounting, Auditing, and Bookkeeping Services NAICS Code 541211 - Certified Public Accountants Loan Approval Date 1/31/2005 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $161,250. 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 5 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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. Related Links: Best Banks for Small Business in Hendersonville, Tennessee
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