Loan to Buy Sears Catalog Store Franchise Issued By National Bank Of Tennessee

Need a loan to purchase a Sears Catalog Store franchise? National Bank Of Tennessee has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sears Catalog Store franchise shouldn't be too tough. In 2004, National Bank Of Tennessee issued an SBA franchise loan to an entrepreneur in Newport, Tennessee. Because Sears Catalog Store was registered with the SBA's registry of franchises, this Tennessee small business loan was issued on an expedited basis.

SBA Loan Borrower

SEARS
NEWPORT, TN 37821

SBA Loan Lender

NATIONAL BANK OF TENNESSEE
262 E BROADWAY
NEWPORT, TN 37821

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452110 - Department Stores

Loan Approval Date

8/16/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $80,000. How would you spend $80,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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SBA 7A Lenders in Newport, Tennessee

Getting a Business Loan in Tennessee