SBA Loan from Suntrust Bank Helps Motorcycle Dealers Company

Suntrust Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Maryville, Tennessee was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Atlanta, Georgia. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE DEALERS
MARYVILLE, TN 37801

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

This loan for a small business 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

5571 - Motorcycle Dealers

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

11/6/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Suntrust 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.

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