Borrowing Money for Finish Carpentry Contractors

With these loans for finish carpentry contractors, the SBA guarantees the lender that the loan will be repaid. This finish carpentry contractors loan for $200,000 was given to a Tennessee entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Trust One Bank, based in Memphis, Tennessee.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY WORK
MEMPHIS, TN 38122

SBA Loan Lender

TRUST ONE BANK
1715 ARRON BRENNER DR
MEMPHIS, TN 38138

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

1751 - Carpentry Work

NAICS Code

238350 - Finish Carpentry Contractors

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 in Memphis, Tennessee

SBA Tennessee Banks