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