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May 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Harrogate, Business Loans > Commercial Bank Harrogate Business Loans > Offices And Clinics Of Doctors Of Medicine Loan | ||||
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Tennessee Bank SBA Loans
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Commercial Bank SBA Loan to Offices And Clinics Of Doctors Of Medicine CompanySearching for a Tennessee SBA loan? Here's one Tennessee business loan that was approved by the SBA. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Commercial Bank, out of Harrogate, Tennessee. The loan was granted and they received $30,000 to help grow their Knoxville, Tennessee business. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF DOCTORS OF MEDICINE SBA Loan Lender COMMERCIAL BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8011 - Offices and Clinics of Doctors of Medicine Loan Approval Date 6/1/2000 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $24,000. 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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Commercial Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Harrogate, Tennessee
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