Murfreesboro, Tennessee Business Gets SBA-Guaranteed Funding from Pinnacle National Bank

Pinnacle National Bank has a track record as a leading provider of SBA loans. Find out how this Tennessee entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Pinnacle National Bank, out of Murfreesboro, Tennessee. The loan was granted and they received $75,000 to help grow their Murfreesboro, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
MURFREESBORO, TN 37130

SBA Loan Lender

PINNACLE NATIONAL BANK
114 W COLLEGE ST
MURFREESBORO, TN 37130

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/12/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pinnacle National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pinnacle National Bank 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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