Bank Of The South Gives Business Loan to Child Day Care Services Company

Searching for a Tennessee business loan? This Tennessee entrepreneur got a business loan, provided by a Tennessee bank that works with the SBA to help small business owners.

This small business, based in Murfreesboro, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The South. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
MURFREESBORO, TN 37129

SBA Loan Lender

BANK OF THE SOUTH
802 MEMORIAL BLVD
MURFREESBORO, TN 37133

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$463,000

Loan Approval from the SBA

Of the total $463,000 loan amount, the SBA guaranteed $347,250.

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 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The South had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The South made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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