Growing Company Gets a Tennessee Small Business Loan

Want a Tennessee bank loan? This Tennessee entrepreneur got a bank loan, provided by a Tennessee bank that works with the SBA to help small business owners.

This company, based in Nashville, Tennessee, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Suntrust Bank. We've got the inside scoop on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: ARRANGEMENT OF PASSENGER TRANSPORTATION
NASHVILLE, TN 37222

SBA Loan Lender

SUNTRUST BANK
201 FOURTH AVE NORTH
NASHVILLE, TN 37219

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

4729 - Arrangement of Passenger Transportation

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $27,000.

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 only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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