Martin, Tennessee Entrepreneur Gets a Small Business Loan

Bank loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee bank loan, provided by a Tennessee bank, that was approved by the SBA.

This business, based in Martin, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First-Citizens National Bank. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MARTIN, TN 38237

SBA Loan Lender

FIRST-CITIZENS NATIONAL BANK
200 UNIVERSITY
MARTIN, TN 38237

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/15/2005

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 36 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Martin 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.

Related Links:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Martin, Tennessee

Getting a Business Loan in Tennessee