Convenience Stores Bank Loans

With these bank loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $40,000 was given to a Tennessee entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spring City, Tennessee was able to borrow $40,000 from First Bank Of Tennessee. The SBA made the loan possible by guaranteeing $34,000 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
SPRING CITY, TN 37381

SBA Loan Lender

FIRST BANK OF TENNESSEE
369 FRONT ST
SPRING CITY, TN 37381

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

12/27/2004

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Bank Of Tennessee are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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Tennessee SBA Bank Lenders