SBA Loans for Schiffli Machine Embroidery

Looking for SBA loans for schiffli machine embroidery? The SBA may be the answer. This $6,800 schiffli machine embroidery loan was issued by a Virginia bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Suntrust Bank, out of Richmond, Virginia. The loan was granted and they received $6,800 to help grow their Knoxville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: SCHIFFLI MACHINE EMBROIDERY
Knoxville, TN 37921

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

313222 - Schiffli Machine Embroidery

Loan Approval Date

10/11/2005

Loan Approval Gross Amount

$6,800

Loan Approval from the SBA

Of the total $6,800 loan amount, the SBA guaranteed $3,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Knoxville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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