Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Portland, Tennessee Bank for SBA Loans

 

 
Loan Census SBA Loan Info

Financing for General Rental Centers

With these loans for general rental centers, the SBA guarantees the lender that the loan will be repaid. This general rental centers loan for $800,000 was given to a Tennessee entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Portland, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Greenbank, based in Portland, Tennessee.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
PORTLAND, TN 37148

SBA Loan Lender

GREENBANK
420 HWY 52 WEST
PORTLAND, TN 37148

This SBA 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

7359 - Equipment Rental and Leasing

NAICS Code

532310 - General Rental Centers

Loan Approval Date

11/8/2001

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Greenbank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Choosing VC Firms

SBA Approved Banks in Portland, Tennessee

Tennessee SBA 7A Banks