Morristown, Tennessee Lender Lends Money to Outpatient Care Centers Company

Thinking about meeting with a Morristown, Tennessee bank about an SBA loan? Here's one Tennessee business loan, issued by a Morristown bank, that was approved by the SBA.

Applying for an SBA loan with Community National Bank - Lakeway Ar worked out well for our friends at one local business in Jefferson City, Tennessee. They received an SBA loan for $135,000. Nice!

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT CARE CENTERS
JEFFERSON CITY, TN 37760

SBA Loan Lender

COMMUNITY NATIONAL BANK - LAKEWAY AR
225 W FIRST NORTH ST
MORRISTOWN, TN 37814

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621498 - Outpatient Care Centers

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community National Bank - Lakeway Ar had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community National Bank - Lakeway Ar made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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