SBA Loan from The Bank Of Nashville Helps Dental Laboratories Company

The Bank Of Nashville and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Nashville, Tennessee was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Nashville, operating out of Nashville, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTAL LABORATORIES
NASHVILLE, TN 37211

SBA Loan Lender

THE BANK OF NASHVILLE
401 CHURCH ST L&C TOWER
NASHVILLE, TN 37219

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8072 - Dental Laboratories

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

1/23/2004

Loan Approval Gross Amount

$36,000

Loan Approval from the SBA

Of the total $36,000 loan amount, the SBA guaranteed $30,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Getting a Small Business Loan

Good Banks for Small Business in Nashville, Tennessee

SBA Lenders in Tennessee