Local Business Gets a Tennessee Bank Loan

Business loans in Tennessee are hard to find these days. We take a look at one Tennessee business loan, provided by a California bank, that was approved by the SBA.

This small business, based in Knoxville, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Pacific City Bank. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
KNOXVILLE, TN 37934

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

4/23/2007

Loan Approval Gross Amount

$370,000

Loan Approval from the SBA

Of the total $370,000 loan amount, the SBA guaranteed $277,500.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Knoxville TN, you ought to talk with a local Knoxville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Knoxville businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Small Business Credit Cards

Good Banks for Small Business in Los Angeles, California

Getting an SBA Loan in California