SBA Loan from First Tennessee Bank Helps Homefurnishings Stores Company

First Tennessee Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Tennessee Bank, out of Knoxville, Tennessee. The loan was granted and they received $150,000 to help grow their Knoxville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
KNOXVILLE, TN 37932

SBA Loan Lender

FIRST TENNESSEE BANK
1815 DOWNTOWN WEST
KNOXVILLE, TN 37919

This loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5719 - Homefurnishings Stores

NAICS Code

442291 - Window Treatment Stores

Loan Approval Date

4/26/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 only one employee. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Tennessee 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.

Related Links:

Direct Public Offerings

Small Business Banks in Knoxville, Tennessee

SBA Participating Banks in Tennessee