SBA Loan from Pinnacle National Bank Helps Eating Places Company

An SBA loan from Pinnacle National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Murfreesboro, Tennessee business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Murfreesboro, Tennessee, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Pinnacle National Bank, based in Murfreesboro, Tennessee.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MURFREESBORO, TN 37127

SBA Loan Lender

PINNACLE NATIONAL BANK
114 W COLLEGE ST
MURFREESBORO, TN 37130

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/18/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Murfreesboro 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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