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April 30, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Brentwood, Business Loans > Bancorpsouth Bank Brentwood Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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Raising Money in Nashville, Tennessee With SBA Loans
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Business Loans for Automotive Parts and Accessories StoresLooking for business loans for automotive parts and accessories stores? The SBA may be the answer. This $420,000 automotive parts and accessories stores loan was issued by a Tennessee bank. This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bancorpsouth Bank, out of Brentwood, Tennessee. The loan was granted and they received $420,000 to help grow their Nashville, Tennessee business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender BANCORPSOUTH BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 12/19/2001 Loan Approval Gross Amount $420,000 Loan Approval from the SBA Of the total $420,000 loan amount, the SBA guaranteed $315,000. 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 17 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Nashville TN, you ought to talk with a local Nashville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Nashville businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $420,000 loan. Remember, where there is a will, there is a way! 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: Small Bank Loans in Brentwood, Tennessee
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