Tennessee Small Business Loan Issued to Family Clothing Stores Company
TennesseeSBA loans are available to Tennessee entrepreneurs through the SBA. In this case, a Tennessee bank provides the loan.
You can learn something about getting a small business loan in Huntingdon, Tennessee by studying this loan to a local business, made back in 2007. Banks like Carroll Bank & Trust may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: FAMILY CLOTHING STORES
HUNTINGDON, TN 38344
SBA Loan Lender
CARROLL BANK & TRUST
19510 W MAIN ST
HUNTINGDON, TN 38344
This bank 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
5651 - Family Clothing Stores
NAICS Code
448140 - Family Clothing Stores
Loan Approval Date
2/23/2007
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, you control your own destiny.
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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