Firm Gets a Tennessee SBA Loan

Would a Tennessee small business loan help your small business to grow and prosper? If so, you may want to talk with this Tennessee bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Morristown, Tennessee was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
MORRISTOWN, TN 37814

SBA Loan Lender

SUNTRUST BANK
ONE CENTRE SQ, 620 MARKET ST
KNOXVILLE, TN 37902

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5713 - Floor Covering Stores

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

3/17/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $120,000. How would you spend $120,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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