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May 13, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Cleveland, Business Loans > First Tennessee Bank Cleveland Business Loans > Woodworking Machinery Loan | ||||
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Knoxville SBA Loans
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Tennessee Business Loan Issued to Woodworking Machinery CompanyTennesseeBank loans are available to Tennessee firms through the SBA. In this case, a Tennessee bank provides the loan. You can learn something about getting a small business loan in Knoxville, Tennessee by studying this loan to a local company, made back in 2001. Banks like First Tennessee Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: WOODWORKING MACHINERY SBA Loan Lender FIRST TENNESSEE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3553 - Woodworking Machinery NAICS Code 333210 - Sawmill and Woodworking Machinery Manufacturing Loan Approval Date 3/20/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 documents 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 guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $75,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best Banks in Cleveland, Tennessee
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