Tennessee Business Loans
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Business Loans for Companies in Tennessee
Tennessee, located in the heart of the southern region has diversified its economy in recent years. There has been an influx of economic development, major businesses and corporations are investing in the volunteer state and the local economy is thriving. Revenue flows into the state’s economy from a variety of different industries and businesses, both big and small. Both businesses and tourists are flocking to Nashville, the state’s capital providing billions of dollars to states economy. Business owners use both large and small business loans in Tennessee to finance their businesses.
Manufacturing Loans in Tennessee
The manufacturing industry has always been a crucial part of the local economy, with automotive manufacturing accounting for nearly one and three manufacturing jobs in the state. Tennessee is home to some of the largest automotive manufacturing companies in the country. Nissan and GM both have large manufacturing facilities in the state. With the states geographic location, talented workforce and low business costs Tennessee’s manufacturing industry continues to prosper. Business owners throughout the manufacturing industry use business loans in Tennessee to grow and manage their businesses.
Healthcare and Green Energy Loans in Tennessee
The healthcare and green energy industries in Tennessee have expanded and are providing an impact in the local economy. The health care industry, including Vanderbilt University Medical Center provide close to $30 billion dollars and over 200,000 jobs to the state’s economy annually. The green energy industry, which is focused primary on clean air, energy efficiency, and renewable energy has been one of the fastest growing industries in the state. SMB Compass provides business loans in Tennessee to help these industries expand and prosper.
Agriculture loans in Tennessee
Farmland covers over a third of the state, making the agricultural industry and the products they produce such as corn, beef, chicken, and cotton very important to Tennessee’s economy. The agriculture industry accounts for close to 10% of the Tennessee’s economy and provides over $30 billion dollars and 200,000 jobs to the state. Business owners in the agriculture industry rely on small business loans and equipment financing in Tennessee to cover expenses and operate their businesses.
Tourism and Hospitality Loans in Tennessee
Tennessee’s tourism and hospitality industry has seen massive growth, with Nashville alone accounting for 1.5 billion dollars in revenue annually. The music city is attracting visitors from major nearby local such as Atlanta and Charlotte as well as tourists from around the country. The tourism industry is thriving not only in Nashville but also throughout the entire state, helping provide revenue opportunities for small businesses. These businesses are using both small business loans and hotel loans in Tennessee to manage and expand their businesses. SMB Compass provides business loans in Tennessee to a wide range of industries and businesses.
SMB Compass has loan programs in Tennessee from $25,000 up to $100 million. SMB compass specializes throughout Tennessee in equipment financing, SBA loans, asset based loans, bridge loans, invoice factoring, and business lines of credit. Schedule a call with a Lending Advisor today to learn more about the business loan options in Tennessee.
Small Business Loans in Tennessee
Here are the many ways to use a small business loan in Tennessee
- Acquire small business loans
- Refinance existing loans and credit card debt
- Purchase or refinance commercial real estate
- Buy or lease machinery and equipment
- Purchase inventory and raw materials
- Improve cash flow
- Marketing and advertising campaigns
- Upgrade technology and business software
- Renovate existing office space
- Day-to-day operating expenses
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