Borrowing Money for Office Equipment Merchant Wholesalers

Looking for small business loans for office equipment merchant wholesalers? Talk to a banker who works with the SBA. This $200,000 office equipment merchant wholesalers loan was issued by a Tennessee bank.

Getting a small business loan in Knoxville, Tennessee was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Cornerstone Community Bank, operating out of Chattanooga, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICE EQUIPMENT MERCHANT WHOLESALERS
KNOXVILLE, TN 38922

SBA Loan Lender

CORNERSTONE COMMUNITY BANK
6401 LEE HWY, STE B
CHATTANOOGA, TN 37421

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423420 - Office Equipment Merchant Wholesalers

Loan Approval Date

10/19/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 21 employees. The SBA loan documents indicated that the loan would help retain 21 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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