Business Loan from Branch Bank & Trust Given to Household Appliance Stores Company

Branch Bank & Trust 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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Knoxville, Tennessee was able to borrow $150,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $112,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: HOUSEHOLD APPLIANCE STORES
KNOXVILLE, TN 37922

SBA Loan Lender

BRANCH BANK & TRUST
11140 KINGSTON PIKE
KNOXVILLE, TN 37922

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5722 - Household Appliance Stores

NAICS Code

443111 - Household Appliance Stores

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Branch Bank & Trust 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.

Related Links:

Business Line of Credit

Small Business Banks in Knoxville, Tennessee

Find an SBA Lender in Tennessee