Local Business Gets a Tennessee SBA Loan

Business loans in Tennessee are hard to find these days. We take a look at one Tennessee business loan, provided by a Georgia bank, that was approved by the SBA.

Getting a small business loan in Pigeon Forge, Tennessee was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community W. Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: TOBACCO STORES AND STANDS
PIGEON FORGE, TN 37863

SBA Loan Lender

COMMUNITY W. BANK
665 MOLLY LN, STE 110
WOODSTOCK, GA 30189

This lender issued this particular SBA bank 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

5993 - Tobacco Stores and Stands

NAICS Code

453991 - Tobacco Stores

Loan Approval Date

1/22/2001

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

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 6 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community W. Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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