Business Loan from First South Bank Given to Specialty Trade Contractors Company

An SBA loan from First South Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Jackson, Tennessee business owner got a $320,400 loan.

This growing company knew how to go about getting a business bank loan. Based in Jackson, Tennessee, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was First South Bank, based in Jackson, Tennessee.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
JACKSON, TN 38305

SBA Loan Lender

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

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

10/15/2007

Loan Approval Gross Amount

$320,400

Loan Approval from the SBA

Of the total $320,400 loan amount, the SBA guaranteed $160,200.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First South Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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