Business Loan from Patriot Bank Given to Lumber, Plywood, Millwork, And Wood Panels Company

Patriot Bank has a track record as a leading provider of SBA loans. Find out how this Tennessee entrepreneur received an SBA loan from them.

Getting a small business loan in Memphis, Tennessee was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Patriot Bank, operating out of Millington, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANELS
MEMPHIS, TN 38122

SBA Loan Lender

PATRIOT BANK
8376 HWY 51 NORTH
MILLINGTON, TN 38053

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5031 - Lumber, Plywood, Millwork, and Wood Panels

NAICS Code

421310 -

Loan Approval Date

11/25/2003

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 an existing 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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Good Banks for Small Business in Millington, Tennessee

Find an SBA Lender in Tennessee