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May 18, 2024  
 
 
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Tennessee Bank SBA Loans

 

 
Loan Census SBA Loan Info

Clarksville, Tennessee Lender Lends Money to Electrical Contractors And Wiring Installation Contractors Company

Want to talk with a Clarksville, Tennessee bank about an SBA loan? Here's one Tennessee business loan, issued by a Clarksville bank, that was approved by the SBA.

Applying for an SBA loan with Cumberland Bank & Trust worked out well for our friends at one local firm in Southside, Tennessee. They received an SBA loan for $50,000. Nice!

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
SOUTHSIDE, TN 37171

SBA Loan Lender

CUMBERLAND BANK & TRUST
2034 WILMA RUDOLPH BLVD
CLARKSVILLE, TN 37040

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

6/22/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cumberland Bank & Trust 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:

Direct Public Offerings

Where to Get an SBA Loan in Clarksville, Tennessee

Where to Get an SBA Loan Tennessee