Borrowing Money for Nonchocolate Confectionery Manufacturing

With these loans for nonchocolate confectionery manufacturing, the SBA guarantees the lender that the loan will be repaid. This nonchocolate confectionery manufacturing loan for $610,000 was given to a Tennessee entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lookout Mountain, Tennessee was able to borrow $610,000 from Zions First National Bank. The SBA made the loan possible by guaranteeing $457,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: NONCHOCOLATE CONFECTIONERY MANUFACTURING
LOOKOUT MOUNTAIN, TN 37550

SBA Loan Lender

ZIONS FIRST NATIONAL BANK
2460 SOUTH 3270 WEST, SBA DEP
WEST VALLEY CITY, UT 84119

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311340 - Nonchocolate Confectionery Manufacturing

Loan Approval Date

3/14/2001

Loan Approval Gross Amount

$610,000

Loan Approval from the SBA

Of the total $610,000 loan amount, the SBA guaranteed $457,500.

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 7 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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