Jackson, Tennessee Bank Gives SBA Loan to Scrap And Waste Materials Company

Find Jackson, Tennessee banks that specialize in small business loans and know how to work with entrepreneurs. First South Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Jackson, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First South Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SCRAP AND WASTE MATERIALS
JACKSON, TN 38302

SBA Loan Lender

FIRST SOUTH BANK
1862 HWY 45 BY-PASS
JACKSON, TN 38305

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5093 - Scrap and Waste Materials

NAICS Code

423930 - Recyclable Material Merchant Wholesalers

Loan Approval Date

11/7/2003

Loan Approval Gross Amount

$229,000

Loan Approval from the SBA

Of the total $229,000 loan amount, the SBA guaranteed $171,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

This SBA loan was for $229,000. How would you spend $229,000 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:

SBIR Funding

SBA Participating Banks in Jackson, Tennessee

Tennessee SBA 7A Lenders