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May 6, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Mount Juliet, Business Loans > Pinnacle National Bank Mount Juliet Business Loans > Fresh Fruits And Vegetables Loan | ||||
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How to Get SBA Loans in Nashville, Tennessee
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Fresh Fruit and Vegetable Merchant Wholesalers Bank LoansLooking for bank loans for fresh fruit and vegetable merchant wholesalers? The SBA may be the answer. This $348,133 fresh fruit and vegetable merchant wholesalers loan was issued by a Tennessee bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nashville, Tennessee was able to borrow $348,133 from Pinnacle National Bank. The SBA made the loan possible by guaranteeing $261,100 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: FRESH FRUITS AND VEGETABLES SBA Loan Lender PINNACLE NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency 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 5148 - Fresh Fruits and Vegetables NAICS Code 424480 - Fresh Fruit and Vegetable Merchant Wholesalers Loan Approval Date 5/11/2004 Loan Approval Gross Amount $348,133 Loan Approval from the SBA Of the total $348,133 loan amount, the SBA guaranteed $261,100. 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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pinnacle National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Mount Juliet, Tennessee
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