Musical Instrument and Supplies Stores Bank Loans

Looking for bank loans for musical instrument and supplies stores? Talk to a banker who works with the SBA. This $55,000 musical instrument and supplies stores loan was issued by a Tennessee bank.

Getting a small business loan in Tullahoma, Tennessee was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from American City Bank, operating out of Tullahoma, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
TULLAHOMA, TN 37388

SBA Loan Lender

AMERICAN CITY BANK
340 W LINCOLN
TULLAHOMA, TN 37388

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring 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.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

10/19/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Tullahoma TN, you ought to talk with a local Tullahoma SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tullahoma businesses.

We can help you find the best banks for small businesses in Tullahoma or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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