Business Loan from First Tennessee Bank Given to Freight Transportation Arrangement Company

First Tennessee 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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $10,000 from First Tennessee Bank. The SBA made the loan possible by guaranteeing $5,000 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
MEMPHIS, TN 38108

SBA Loan Lender

FIRST TENNESSEE BANK
165 MADISON, 1ST FL
MEMPHIS, TN 38103

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

1/12/2006

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Memphis TN, you ought to talk with a local Memphis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Memphis businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Tennessee Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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