Chattanooga, Tennessee Bank Gives SBA Loan to Ball And Roller Bearing Manufacturing Company

Want to talk with a Chattanooga, Tennessee bank about a small business loan? Here's one Tennessee business loan, issued by a Chattanooga bank, that was approved by the SBA.

Applying for an SBA loan with First Volunteer Bank - Tennessee worked out well for our friends at one local business in Powell, Tennessee. The business was able to get an SBA loan for $625,000. Great job!

SBA Loan Borrower

COMPANY TYPE: BALL AND ROLLER BEARING MANUFACTURING
POWELL, TN 37849

SBA Loan Lender

FIRST VOLUNTEER BANK - TENNESSEE
728 BROAD ST
CHATTANOOGA, TN 37402

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332991 - Ball and Roller Bearing Manufacturing

Loan Approval Date

12/11/2007

Loan Approval Gross Amount

$625,000

Loan Approval from the SBA

Of the total $625,000 loan amount, the SBA guaranteed $468,750.

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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.

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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Volunteer Bank - Tennessee 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.

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