Local Business Gets a Tennessee Small Business Loan

Business loans in Tennessee are tough to come by these days. We take a look at one Tennessee business loan, provided by a Tennessee bank, that was approved by the SBA.

This business, based in Maryville, 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 United Community Bank. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: PUBLIC GOLF COURSES
MARYVILLE, TN 37801

SBA Loan Lender

UNITED COMMUNITY BANK
1087 HUNTERS CROSSING
ALCOA, TN 37701

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7992 - Public Golf Courses

NAICS Code

326121 - Unsupported Plastics Profile Shapes Manufacturing

Loan Approval Date

11/19/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Maryville TN, you ought to talk with a local Maryville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Maryville businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like United Community Bank and they will explain how you can get an SBA loan for your company.

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:

Getting a Small Business Loan

SBA 7A Banks for Alcoa, Tennessee Loans

SBA Lenders in Tennessee