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November 23, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Hardware Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Business Loans for Fabricated Metal Product ManufacturingLooking for business loans for fabricated metal product manufacturing? An SBA loan may be just what you've been looking for. This $1,235,000 fabricated metal product manufacturing loan was issued by a Tennessee bank. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Community So. Bank D.B.A Commun, out of Knoxville, Tennessee. The loan was granted and they received $1,235,000 to help grow their Hohenwald, Tennessee business. SBA Loan Borrower COMPANY TYPE: HARDWARE SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3429 - Hardware NAICS Code 332999 - Fabricated Metal Product Manufacturing Loan Approval Date 3/18/2005 Loan Approval Gross Amount $1,235,000 Loan Approval from the SBA Of the total $1,235,000 loan amount, the SBA guaranteed $926,250. 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 80 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in Knoxville, Tennessee
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