 |
 |
May 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Chattanooga, Business Loans > Cornerstone Community Bank Chattanooga Business Loans > Construction Materials Loan | ||||
 |
||||
Tips for Business Owners On Getting a Loan
|
||||
 |
Construction Material Merchant Wholesalers LoansWith these loans for construction material merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This construction material merchant wholesalers loan for $575,000 was given to a Tennessee entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chattanooga, Tennessee was able to borrow $575,000 from Cornerstone Community Bank. The SBA made the loan possible by guaranteeing $431,250 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION MATERIALS SBA Loan Lender CORNERSTONE COMMUNITY 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 5039 - Construction Materials NAICS Code 423390 - Construction Material Merchant Wholesalers Loan Approval Date 12/18/2003 Loan Approval Gross Amount $575,000 Loan Approval from the SBA Of the total $575,000 loan amount, the SBA guaranteed $431,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cornerstone Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cornerstone Community Bank 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: SBA Banks in Chattanooga, Tennessee
|
|
||
|
||||
|
|
||||