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April 27, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Nashville, Business Loans > The Bank Of Nashville Nashville Business Loans > Grocery Stores Loan | ||||
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Banks Doing SBA Loans in Tennessee
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Nashville, Tennessee Lender Lends Money to Grocery Stores CompanyThinking about meeting with a Nashville, Tennessee bank about an SBA loan? Here's one Tennessee business loan, issued by a Nashville bank, that was approved by the SBA. Applying for an SBA loan with The Bank Of Nashville worked out well for our friends at one local company in Smyrna, Tennessee. The business was able to get an SBA loan for $1,300,000. Great job! SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender THE BANK OF NASHVILLE The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 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 5411 - Grocery Stores NAICS Code 445120 - Convenience Stores Loan Approval Date 12/10/2004 Loan Approval Gross Amount $1,300,000 Loan Approval from the SBA Of the total $1,300,000 loan amount, the SBA guaranteed $975,000. 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 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Bank Of Nashville had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Bank Of Nashville made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks for Small Business in Nashville, Tennessee
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