Financing for Wineries

With these commercial loans for wineries, the SBA guarantees the lender that the loan will be repaid. This wineries loan for $100,000 was given to a Tennessee entrepreneur in 2000.

This business 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 2000. The lending bank was First Tennessee Bank, based in Bartlett, Tennessee.

SBA Loan Borrower

COMPANY TYPE: WINES, BRANDY, AND BRANDY SPIRITS
MEMPHIS, TN 38103

SBA Loan Lender

FIRST TENNESSEE BANK
6891 SUMMER AVE
BARTLETT, TN 38133

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

2084 - Wines, Brandy, and Brandy Spirits

NAICS Code

312130 - Wineries

Loan Approval Date

3/31/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Friends and Family Network

SBA Approved Banks in Bartlett, Tennessee

Getting a Business Loan in Tennessee