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May 6, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Mount Juliet, Business Loans > Pinnacle National Bank Mount Juliet Business Loans > Nondurable Goods Loan | ||||
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Tennessee Small Business Funding
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Bank Loans for Nondurable Goods Merchant WholesalersWith these bank loans for nondurable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This nondurable goods merchant wholesalers loan for $396,000 was given to a Tennessee entrepreneur in 2006. Getting a small business loan in Nashville, Tennessee was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Pinnacle National Bank, operating out of Mount Juliet, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS SBA Loan Lender PINNACLE NATIONAL BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5199 - Nondurable Goods NAICS Code 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 7/31/2006 Loan Approval Gross Amount $396,000 Loan Approval from the SBA Of the total $396,000 loan amount, the SBA guaranteed $297,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Obtaining Funding - Friends and Family Banks in Mount Juliet, Tennessee
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