Business Loan from Suntrust Bank Given to Limited-Service Restaurants Company

An SBA loan from Suntrust Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Knoxville, Tennessee business owner got a $25,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Suntrust Bank, out of Richmond, Virginia. The loan was granted and they received $25,000 to help grow their Knoxville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Knoxville, TN 37719

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

7/19/2006

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. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The loan application indicated that the loan would help retain 32 existing jobs.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Suntrust Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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