Nashville, Tennessee Bank Lends Money to Lumber, Plywood, Millwork, And Wood Panels Company in Nashville, Tennessee

Want to talk with a Nashville, Tennessee bank about a business loan? Here's one Tennessee business loan, issued by a Nashville bank, that was approved by the SBA.

Applying for an SBA loan with Renasant Bank worked out well for our friends at one local firm in Nashville, Tennessee. They received an SBA loan for $632,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANELS
NASHVILLE, TN 37203

SBA Loan Lender

RENASANT BANK
1820 WEST END AVE
NASHVILLE, TN 37203

This small business 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

5031 - Lumber, Plywood, Millwork, and Wood Panels

NAICS Code

423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Loan Approval Date

3/8/2006

Loan Approval Gross Amount

$632,000

Loan Approval from the SBA

Of the total $632,000 loan amount, the SBA guaranteed $474,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Renasant Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Renasant Bank 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:

Accountant's Role in Securing Financing

Banks in Nashville, Tennessee

Getting a Business Loan in Tennessee