Chattanooga, Tennessee Bank Lends Money to Liquor Stores Company in Hixson, Tennessee

Find Chattanooga, Tennessee banks that specialize in business loans and know how to work with entrepreneurs. Cornerstone Community Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hixson, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Cornerstone Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
HIXSON, TN 37343

SBA Loan Lender

CORNERSTONE COMMUNITY BANK
6401 LEE HWY, STE B
CHATTANOOGA, TN 37421

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

1/19/2007

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Cornerstone Community Bank 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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