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November 24, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Harrogate, Business Loans > Commercial Bank Harrogate Business Loans > Residential Remodelers Loan | ||||
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SBA Lenders in Knoxville
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Knoxville, Tennessee Business Gets SBA-Guaranteed Funding from Commercial BankCommercial Bank has a track record as a leading provider of SBA loans. Find out how this Tennessee entrepreneur received an SBA loan from them. Getting a small business loan in Knoxville, Tennessee was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Commercial Bank, operating out of Harrogate, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender COMMERCIAL BANK This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 236118 - Residential Remodelers Loan Approval Date 6/22/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Who Lends Money to Small Businesses in Harrogate, Tennessee
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