Morristown, Tennessee Bank Gives SBA Loan to Offices And Clinics Of Optometrists Company

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

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: OFFICES AND CLINICS OF OPTOMETRISTS
MORRISTOWN, TN 37814

SBA Loan Lender

JEFFERSON FEDERAL BANK
120 EVANS AVE
MORRISTOWN, TN 37814

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8042 - Offices and Clinics of Optometrists

NAICS Code

621210 - Dentists

Loan Approval Date

3/4/2004

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Borrowing Money from Friends and Family

Small Business Banks in Morristown, Tennessee

Tennessee SBA 7A Lenders