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

Get business loans from a Nashville, Tennessee bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Suntrust Bank is a Nashville, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Tennessee company.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S, MISSES', AND JUNIORS' DRESSES
WAYNESBORO, TN 38485

SBA Loan Lender

SUNTRUST BANK
201 FOURTH AVE NORTH
NASHVILLE, TN 37219

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2335 - Women's, Misses', and Juniors' Dresses

NAICS Code

315212 - Women's, Girls', and Infants' Cut and Sew Apparel Contractors

Loan Approval Date

2/16/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Suntrust Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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