First Tennessee Bank National Association v. Hector v. Barreto, in His Official Capacity as Administrator of the Small Business Administration

OPINION

RICE, Chief District Judge.

This litigation stems from a loan guaranty agreement between appellant First Tennessee Bank National Association (“First Tennessee”) and the Small Business Administration (“SBA”). After the SBA failed to honor the agreement, First Tennessee filed an official-capacity suit against the Administrator of the SBA. First Tennessee’s lawsuit sought to compel the SBA to honor the guaranty agreement by repurchasing a defaulted loan. Following a bench trial, the district court entered final judgment in favor of the SBA on June 15, 1998. The district court concluded,…