Morristown, Tennessee Lender Lends Money to Eating Places Company

Find Morristown, Tennessee banks that specialize in business loans and know how to work with entrepreneurs. Jefferson Federal Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Morristown, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Jefferson Federal Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MORRISTOWN, TN 37814

SBA Loan Lender

JEFFERSON FEDERAL BANK
120 EVANS AVE
MORRISTOWN, TN 37814

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/21/2003

Loan Approval Gross Amount

$315,000

Loan Approval from the SBA

Of the total $315,000 loan amount, the SBA guaranteed $236,250.

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 40 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Morristown TN, you ought to talk with a local Morristown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Morristown businesses.

We can help you find the best banks for small businesses in Morristown or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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