Growing Company Gets a Tennessee Bank Loan
Bank loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee bank loan, provided by a Tennessee bank, that was approved by the SBA.
Getting a small business loan in Huntingdon, Tennessee was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Carroll Bank & Trust. Here are the details on this Tennessee small business loan.
SBA Loan Borrower
COMPANY TYPE: WATER SUPPLY
HUNTINGDON, TN 38344
SBA Loan Lender
CARROLL BANK & TRUST
19510 W MAIN ST
HUNTINGDON, TN 38344
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
4941 - Water Supply
NAICS Code
221310 - Water Supply and Irrigation Systems
Loan Approval Date
2/23/2007
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $187,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
This SBA loan was for $250,000. How would you spend $250,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Equity Financing
Small Bank Loans in Huntingdon, Tennessee
Getting a Business Loan in Tennessee