Business Loan from Wayne County Bank Given to Plastics Products Company

Wayne County 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.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wayne County Bank, out of Waynesboro, Tennessee. The loan was granted and they received $7,400 to help grow their Waynesboro, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
WAYNESBORO, TN 38485

SBA Loan Lender

WAYNE COUNTY BANK
216 S HIGH ST
WAYNESBORO, TN 38485

This lender issued this particular SBA small business 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.

SIC Code

3089 - Plastics Products

Loan Approval Date

5/3/2000

Loan Approval Gross Amount

$7,400

Loan Approval from the SBA

Of the total $7,400 loan amount, the SBA guaranteed $5,920.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Startup Funding Tip

Banks in Waynesboro, Tennessee

Getting an SBA Loan in Tennessee