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December 22, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Knoxville, Business Loans > First Tennessee Bank Knoxville Business Loans > Florists Loan | ||||
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Tennessee Bank SBA Loans
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Entrepreneur Works With Knoxville, Tennessee Bank to Get an SBA LoanGet to know Knoxville, Tennessee banks that specialize in business loans and know how to work with entrepreneurs. First Tennessee Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Lafollette, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from First Tennessee Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender FIRST TENNESSEE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 10/3/2000 Loan Approval Gross Amount $31,573 Loan Approval from the SBA Of the total $31,573 loan amount, the SBA guaranteed $25,258. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 First Tennessee 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. Related Links: Role of Business Plan When Raising Money Best Banks for Small Business in Knoxville, Tennessee
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