Firm Gets a Tennessee Business Loan

Would a Tennessee small business loan help your small business to grow and prosper? If so, you may want to talk with this Tennessee bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Knoxville, Tennessee was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
KNOXVILLE, TN 37902

SBA Loan Lender

SUNTRUST BANK
ONE CENTRE SQ, 620 MARKET ST
KNOXVILLE, TN 37902

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

7231 - Beauty Shops

Loan Approval Date

3/15/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels 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.

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:

Financing Your Business

Banks in Knoxville, Tennessee

Getting an SBA Loan in Tennessee