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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Columbia, Business Loans > First Farmers & Merchants Bk Columbia Business Loans > Fabricated Rubber Products, N.E.C Loan | ||||
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How to Get SBA Loans in Petersburg, Tennessee
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Rubber Product Manufacturing Small Business LoansLooking for small business loans for rubber product manufacturing? The SBA may be the answer. This $100,000 rubber product manufacturing loan was issued by a Tennessee bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Petersburg, Tennessee was able to borrow $100,000 from First Farmers & Merchants Bk. The SBA made the loan possible by guaranteeing $85,000 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED RUBBER PRODUCTS, N.E.C SBA Loan Lender FIRST FARMERS & MERCHANTS BK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3069 - Fabricated Rubber Products, N.E.C NAICS Code 326299 - Rubber Product Manufacturing Loan Approval Date 3/22/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Columbia, Tennessee
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