Brentwood, Tennessee Bank Gives SBA Loan to Power Laundries, Family And Commercial Company

Find Brentwood, Tennessee banks that specialize in small business loans and know how to work with entrepreneurs. Bancorpsouth Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Nashhville, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Bancorpsouth Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL
NASHHVILLE, TN 37205

SBA Loan Lender

BANCORPSOUTH BANK
5217 MARYLAND WAY, STE 100
BRENTWOOD, TN 37027

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7211 - Power Laundries, Family and Commercial

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

1/24/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 60 employees. The loan application 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, 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:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Brentwood, Tennessee

Tennessee SBA Banks