Where to Get Capital for Department Stores

With these SBA loans for department stores, the SBA guarantees the lender that the loan will be repaid. This department stores loan for $40,000 was given to a Tennessee entrepreneur in 2007.

Getting a small business loan in Madisonville, Tennessee was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Winston Salem, North Carolina. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: DEPARTMENT STORES
MADISONVILLE, TN 37354

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

452111 - Department Stores

Loan Approval Date

4/9/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust 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.

Related Links:

Obtaining Funding - Getting Venture Capital

Find an SBA Lender in Winston Salem, North Carolina

Getting a Business Loan in North Carolina