Parsons, Tennessee Bank Gives SBA Loan to Roofing Contractors Company
Get small business loans from a Parsons, Tennessee bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
Community So. Bank D.B.A Commun is a Parsons, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Virginia company.
SBA Loan Borrower
COMPANY TYPE: ROOFING CONTRACTORS
Hampton, VA 23666
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
238160 - Roofing Contractors
Loan Approval Date
12/26/2007
Loan Approval Gross Amount
$1,368,000
Loan Approval from the SBA
Of the total $1,368,000 loan amount, the SBA guaranteed $1,026,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.
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.
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.
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Find an SBA Lender in Parsons, Tennessee
Getting an SBA Loan in Tennessee