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December 21, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Nashville, Business Loans > The Bank Of Nashville Nashville Business Loans > Eating Places Loan | ||||
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The Bank Of Nashville Small Business Nashville, TN
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Nashville, Tennessee Business Gets SBA-Guaranteed Funding from The Bank Of NashvilleThe Bank Of Nashville is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Tennessee entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Nashville, Tennessee was an essential business goal for this company back in 2003 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: EATING PLACES SBA Loan Lender THE BANK OF NASHVILLE 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 5812 - Eating Places NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 7/8/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 65 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Nashville had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Nashville 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. Related Links: SBA 7A Banks in Nashville, Tennessee
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