Tennessee Bank Loan Issued to Broadwoven Fabric Mills, Cotton Company

Would a Tennessee business loan help your company expand? If so, you may want to talk with this Tennessee bank, which offers SBA loans to Tennessee entrepreneurs.

You can learn something about getting a small business loan in Loudon, Tennessee by studying this loan to a local business, made back in 2000. Banks like Branch Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BROADWOVEN FABRIC MILLS, COTTON
LOUDON, TN 37774

SBA Loan Lender

BRANCH BANK & TRUST
11140 KINGSTON PIKE
KNOXVILLE, TN 37922

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2211 - Broadwoven Fabric Mills, Cotton

NAICS Code

313210 - Broadwoven Fabric Mills

Loan Approval Date

3/1/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Branch Bank & Trust 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:

Small Business Credit Cards

SBA Approved Banks in Knoxville, Tennessee

SBA Tennessee Banks