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April 29, 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 > Motor Vehicle Supplies And New Parts Loan | ||||
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Tennessee Small Business Funding
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Where to Get Capital for Motor Vehicle Supplies and New Parts WholesalersWith these SBA loans for motor vehicle supplies and new parts wholesalers, the SBA guarantees the lender that the loan will be repaid. This motor vehicle supplies and new parts wholesalers loan for $265,000 was given to a Tennessee entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huntingdon, Tennessee was able to borrow $265,000 from Tennessee Business & Indust Devel. The SBA made the loan possible by guaranteeing $198,750 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender TENNESSEE BUSINESS & INDUST DEVEL The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system 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 5013 - Motor Vehicle Supplies and New Parts NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 6/26/2003 Loan Approval Gross Amount $265,000 Loan Approval from the SBA Of the total $265,000 loan amount, the SBA guaranteed $198,750. 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 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find business people willing to loan money, 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: Small Bank Loans in Paris, Tennessee
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