Pinnacle National Bank Gives Bank Loan to Lumber And Other Building Materials Dealer Company

Would a Tennessee bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Tennessee bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Murfreesboro, Tennessee was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Pinnacle National Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
MURFREESBORO, TN 37130

SBA Loan Lender

PINNACLE NATIONAL BANK
114 W COLLEGE ST
MURFREESBORO, TN 37130

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

5211 - Lumber and Other Building Materials Dealer

NAICS Code

444110 - Home Centers

Loan Approval Date

7/2/2002

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 3 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pinnacle National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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