Entrepreneur Works With Johnson City, Tennessee Bank to Get an SBA Loan

Get SBA loans from a Johnson City, Tennessee bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

First Commun Bank is a Johnson City, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Tennessee company.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT
ROGERSVILLE, TN 37857

SBA Loan Lender

FIRST COMMUN BANK
2681 BOONES CREEK RD
JOHNSON CITY, TN 37615

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5083 - Farm and Garden Machinery and Equipment

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

5/5/2005

Loan Approval Gross Amount

$562,000

Loan Approval from the SBA

Of the total $562,000 loan amount, the SBA guaranteed $421,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commun Bank 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:

Getting a Small Business Loan

SBA Participating Banks in Johnson City, Tennessee

SBA Tennessee Lenders