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| Entrepreneur Resources | Community So. Bank D.B.A Commun Knoxville Business Loans | ||||
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Knoxville, Tennessee SBA 7A Banks
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Knoxville, Tennessee Lender Lends Money to Pachitos Ice Cream CorpGet to know Knoxville, Tennessee banks that specialize in SBA loans and know how to work with entrepreneurs. Community So. Bank D.B.A Commun is one such bank, as evidenced by this SBA loan to Pachitos Ice Cream Corp.
Finding a small business loan in Miami, Florida starts with an understanding of who else has gotten loans in the area. In this case, Pachitos Ice Cream Corp received funding from Community So. Bank D.B.A Commun Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower PACHITOS ICE CREAM CORP SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311520 - Ice Cream and Frozen Dessert Manufacturing Loan Approval Date 10/6/2006 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $161,250. More Information on This SBA Loan The borrower, Pachitos Ice Cream Corp, borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: The Friends and Family Network SBA 7A Lenders in Knoxville, Tennessee Getting an SBA Loan in Tennessee If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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