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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Paris, Business Loans > Tennessee Business & Indust Devel Paris Business Loans > Wood Office Furniture Loan | ||||
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Birchwood SBA Loan from Tennessee Business & Indust Devel
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Birchwood, Tennessee Business Gets SBA-Guaranteed Funding from Tennessee Business & Indust DevelTennessee Business & Indust Devel is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Tennessee entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Birchwood, Tennessee was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Tennessee Business & Indust Devel, operating out of Paris, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: WOOD OFFICE FURNITURE SBA Loan Lender TENNESSEE BUSINESS & INDUST DEVEL This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2521 - Wood Office Furniture NAICS Code 337211 - Wood Office Furniture Manufacturing Loan Approval Date 10/3/2001 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $68,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: SBA Approved Banks in Paris, Tennessee
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