Entrepreneur Works With Collierville, Tennessee Bank to Get an SBA Loan

Want to talk with a Collierville, Tennessee bank about a business loan? Here's one Arkansas business loan, issued by a Collierville bank, that was approved by the SBA.

Applying for an SBA loan with Banktennessee worked out well for our friends at one local firm in Springdale, Arkansas. They received an SBA loan for $600,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SPRINGDALE, AR 72764

SBA Loan Lender

BANKTENNESSEE
1125 WEST POPLAR AVE
COLLIERVILLE, TN 38017

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.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/12/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banktennessee and they will explain how you can get an SBA loan for your company.

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.

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