Knoxville, Tennessee Business Gets SBA-Guaranteed Funding from Tennessee Business & Indust Devel

An SBA loan from Tennessee Business & Indust Devel typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Knoxville, Tennessee business owner got a $40,000 loan.

Getting a small business loan in Knoxville, Tennessee was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Tennessee Business & Indust Devel, operating out of Paris, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
KNOXVILLE, TN 37919

SBA Loan Lender

TENNESSEE BUSINESS & INDUST DEVEL
1301 E. WOOD STREET, P.O. BOX
PARIS, TN 37402

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

9/10/2004

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Tennessee Business & Indust Devel had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Tennessee Business & Indust Devel 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.

Related Links:

Strategic Investors

SBA 7A Banks for Paris, Tennessee Loans

Tennessee SBA Banks