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May 4, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Nashville, Business Loans > Fifth Third Bank Nashville Business Loans > Radio, Tv, And Consumer Electronics Retailing Loan | ||||
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SBA 7A Banks for Nashville Small Business Owners
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Consumer Electronics and Appliances Rental Commercial LoansWith these commercial loans for consumer electronics and appliances rental, the SBA guarantees the lender that the loan will be repaid. This consumer electronics and appliances rental loan for $420,000 was given to a Tennessee entrepreneur in 2005. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fifth Third Bank, out of Nashville, Tennessee. The loan was granted and they received $420,000 to help grow their Nashville, Tennessee business. SBA Loan Borrower COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING SBA Loan Lender FIFTH THIRD 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 SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5731 - Radio, TV, and Consumer Electronics Retailing NAICS Code 532210 - Consumer Electronics and Appliances Rental Loan Approval Date 8/2/2005 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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, feel the fear, and do it anyway. 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: SBA 7A Banks in Nashville, Tennessee
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