Loan Census Banking News and Information
July 22, 2024  
 
 
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Small Business Banks for Knoxville, Tennessee Businesses

 

 
Loan Census SBA Loan Info

Tennessee Small Business Loan Issued to Specialty Food Stores Company

Would a Tennessee bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this California bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Knoxville, Tennessee was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Saehan Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
Knoxville, TN 37924

SBA Loan Lender

SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

10/5/2006

Loan Approval Gross Amount

$277,500

Loan Approval from the SBA

Of the total $277,500 loan amount, the SBA guaranteed $208,125.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, 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.

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