Local Business Gets a Tennessee Bank Loan

Business loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee business loan, provided by a Virginia bank, that was approved by the SBA.

You can learn something about getting a small business loan in Johnson City, Tennessee by studying this loan to a local business, made back in 2000. Banks like 1st Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONER OFFICE OR CLINIC
JOHNSON CITY, TN 30604

SBA Loan Lender

1ST BANK & TRUST
38 E VALLEY DR
BRISTOL, VA 24203

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8049 - Health Practitioner Office or Clinic

NAICS Code

621330 - Mental Health Practitioners

Loan Approval Date

11/16/2000

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,000.

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 only one employee. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Alternative Financing

Banks in Bristol, Virginia

Where to Get an SBA Loan Virginia