Nashville, Tennessee Entrepreneur Gets a Bank Loan

Small business loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee small business loan, provided by a Tennessee bank, that was approved by the SBA.

You can learn something about getting a small business loan in Nashville, Tennessee by studying this loan to a local company, made back in 2002. Banks like Pinnacle National Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
NASHVILLE, TN 37218

SBA Loan Lender

PINNACLE NATIONAL BANK
2019 RICHARD JONES RD
NASHVILLE, TN 37215

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/1/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 5 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Nashville TN, you ought to talk with a local Nashville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Nashville businesses.

We've showcased information on this loan to let you know that businesses like yours 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:

Borrowing Money from Friends and Family

Small Bank Loans in Nashville, Tennessee

Tennessee SBA 7A Lenders