Oak Ridge, Tennessee Bank Gives SBA Loan to Women's Clothing Stores Company

Get SBA loans from an Oak Ridge, Tennessee bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

O R N L Fcu is a Oak Ridge, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Tennessee company.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
KNOXVILLE, TN 37918

SBA Loan Lender

O R N L FCU
221 S RUTGERS AVE
OAK RIDGE, TN 37830

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

12/31/2003

Loan Approval Gross Amount

$46,791

Loan Approval from the SBA

Of the total $46,791 loan amount, the SBA guaranteed $39,772.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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

Related Links:

Getting a Small Business Loan

Good Banks for Small Business in Oak Ridge, Tennessee

Getting an SBA Loan in Tennessee