Borrowing Money for Special Trade Contractors
Looking for bank loans for special trade contractors? Try the SBA. This $120,000 special trade contractors loan was issued by a Tennessee bank.
This small firm knew how to go about getting a business bank loan. Based in Waynesboro, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Wayne County Bank, based in Waynesboro, Tennessee.
SBA Loan Borrower
COMPANY TYPE: SPECIAL TRADE CONTRACTORS
WAYNESBORO, TN 38485
SBA Loan Lender
WAYNE COUNTY BANK
216 S HIGH ST
WAYNESBORO, TN 38485
This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1799 - Special Trade Contractors
NAICS Code
235990 - Special Trade Contractors
Loan Approval Date
5/15/2001
Loan Approval Gross Amount
$120,000
Loan Approval from the SBA
Of the total $120,000 loan amount, the SBA guaranteed $102,000.
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 SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:
Role of Business Plan When Raising Money
SBA Approved Banks in Waynesboro, Tennessee
Browse All Business Loan Sources for Tennessee