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May 13, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Full-Service Restaurants Loan | ||||
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How to Get SBA Money in Knoxville, Tennessee
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Knoxville, Tennessee Entrepreneur Gets a Bank LoanTennesseeBank loans are available to Tennessee firms through the SBA. In this case, a Virginia bank provides the loan. This company, based in Knoxville, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Suntrust Bank. We've got the inside scoop on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SUNTRUST BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/20/2004 Loan Approval Gross Amount $130,100 Loan Approval from the SBA Of the total $130,100 loan amount, the SBA guaranteed $65,050. 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 25 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency money for small businesses, 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. Related Links: Determining Proper Capital Structure for a Business SBA Participating Banks in Richmond, Virginia
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