Business Loans for General Merchandise Stores

With these business loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $158,000 was given to a Tennessee entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Seymour, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First National Bank, based in Lenoir City, Tennessee.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
SEYMOUR, TN 37865

SBA Loan Lender

FIRST NATIONAL BANK
200 E BROADWAY
LENOIR CITY, TN 37771

This 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

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

12/30/2004

Loan Approval Gross Amount

$158,000

Loan Approval from the SBA

Of the total $158,000 loan amount, the SBA guaranteed $118,500.

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 9 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Lenoir City, Tennessee

Tennessee SBA 7A Lenders