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May 16, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Waynesboro, Business Loans > Wayne County Bank Waynesboro Business Loans > Manufacturing Industries Loan | ||||
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How to Get a Business Loan in Waynesboro, Tennessee
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Wayne County Bank Gives Small Business Loan to Manufacturing Industries CompanyWant 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 business, based in Waynesboro, 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 Wayne County Bank. We've got the inside scoop on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: MANUFACTURING INDUSTRIES SBA Loan Lender WAYNE COUNTY BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3999 - Manufacturing Industries Loan Approval Date 4/24/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wayne County Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Small Bank Loans in Waynesboro, Tennessee
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