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December 23, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Bartlett, Business Loans > First Tennessee Bank Bartlett Business Loans > Video Tape Rental Loan | ||||
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Tennessee Small Business Funding
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Raising Money for Video Tape and Disc RentalLooking for business loans for video tape and disc rental? The SBA may be the answer. This $60,000 video tape and disc rental loan was issued by a Tennessee bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Tennessee Bank, out of Bartlett, Tennessee. The loan was granted and they received $60,000 to help grow their Memphis, Tennessee business. SBA Loan Borrower COMPANY TYPE: VIDEO TAPE RENTAL SBA Loan Lender FIRST TENNESSEE BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7841 - Video Tape Rental NAICS Code 532230 - Video Tape and Disc Rental Loan Approval Date 1/28/2002 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 7 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Tennessee Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Bartlett, Tennessee
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