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SBA Backs $285 Million to Tennessee Small Businesses in 2017

Release Date: 
Wednesday, October 18, 2017
Release Number: 
C. Shawn McKeehan (615) 736-2499 christopher.mckeehan@sba.gov

NASHVILLE, Tenn. – U.S. Small Business Administration (SBA) loan programs placed $285 million into the hands of Tennessee small businesses during fiscal year 2017, guarantying 515 loans. Fiscal year 2017 began October 1, 2016 and concluded on September 30, 2017.


Throughout the year, 498 loans were approved through the SBA’s flagship 7(a) program for $275,844,200. Through SBA’s 504 fixed-asset financing program, Certified Development Companies approved 17 loans for $8.4 million. Also, microloan intermediaries approved 34 loans for $734,427.

“Thanks to our lending partners, Tennessee entrepreneurs received much needed financing to start, operate, and grow their small businesses,” said LaTanya Channel, SBA Tennessee District Director. “Our lenders are vital to SBA’s mission of providing small businesses with greater access to capital throughout Tennessee.”


U.S. Bank was Tennessee’s top 7(a) lender in FY 2017 ranked by number of loans, with 66 loans approved for over $13.5 million. Celtic Bank Corporation landed the number two spot, with 32 loans approved for $8 million.


Areawide Development Corporation and Brightbridge, Inc., tied for the state’s top Certified Development Company, each approving six 504 loans. Areawide Development led in dollar approval volume with $3.3 million. Brightbridge, Inc., followed with $2.8 million.


Pathway Lending was Tennessee’s top microloan intermediary approving 30 loans worth $661,300. Liftfund, Inc., garnered the second microloan intermediary slot approving 4 loans valued at $77,127. 


For a full listing of the 2017 SBA Tennessee Lender Ranking, please visit: https://www.sba.gov/offices/district/tn/nashville/resources/tennessee-district-lending-activity

Nationally, SBA approved 319,940 loans for $30.5 billion. To view the SBA national release, visit: here.