Suntrust Bank SBA Loan to Special Trade Contractors Company

Searching for a Tennessee SBA loan? Here's one Tennessee business loan that was approved by the SBA.

This growing firm needed an SBA business loan in Knoxville, Tennessee back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Knoxville, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
KNOXVILLE, TN 37920

SBA Loan Lender

SUNTRUST BANK
ONE CENTRE SQ, 620 MARKET ST
KNOXVILLE, TN 37902

This lender issued this particular debt financing 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.

SIC Code

1799 - Special Trade Contractors

Loan Approval Date

4/5/2000

Loan Approval Gross Amount

$53,000

Loan Approval from the SBA

Of the total $53,000 loan amount, the SBA guaranteed $42,400.

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. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Suntrust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Where to Get an SBA Loan in Knoxville, Tennessee

Tennessee SBA 7A Lenders