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December 21, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Springfield, Business Loans > The Farmers Bank Springfield Business Loans > Florists Loan | ||||
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SBA Loan from The Farmers Bank
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The Farmers Bank SBA Loan to Florists CompanyThe Farmers Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Tennessee entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Portland, Tennessee was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from The Farmers Bank, operating out of Springfield, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender THE FARMERS BANK 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 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 9/7/2005 Loan Approval Gross Amount $67,000 Loan Approval from the SBA Of the total $67,000 loan amount, the SBA guaranteed $56,950. 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 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks for Springfield, Tennessee Loans
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