Borrowing Money for Wood Container and Pallet Manufacturing

With these small business loans for wood container and pallet manufacturing, the SBA guarantees the lender that the loan will be repaid. This wood container and pallet manufacturing loan for $147,000 was given to an Arkansas entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Maumelle, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Banktennessee, based in Collierville, Tennessee.

SBA Loan Borrower

COMPANY TYPE: WOOD PALLETS AND SKIDS
MAUMELLE, AR 72118

SBA Loan Lender

BANKTENNESSEE
1125 WEST POPLAR AVE
COLLIERVILLE, TN 38017

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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

2448 - Wood Pallets and Skids

NAICS Code

321920 - Wood Container and Pallet Manufacturing

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$147,000

Loan Approval from the SBA

Of the total $147,000 loan amount, the SBA guaranteed $110,250.

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 10 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banktennessee that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Realistic Debt Financing Options

Where to Get an SBA Loan in Collierville, Tennessee

Getting an SBA Loan in Tennessee