Legal Opinion
First National Bank v. Kleppe
District Court, E.D. Tennessee
Decided August 22, 1975No. CIV-4-75-1PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OPINION
NEESE, District Judge.
This is an action under 15 U.S.C. § 634(b)(1) by the First National Bank of McMinnville, Tennessee (bank) to recover from the Small Business Administration (SBA) a portion of a loss the bank sustained on a loan to Excel Manufacturing Company (Excel). Trial was to the Court on August 8, 1975.
The bank and SBA were operating under a blanket agreement, whereunder, inter alia, SBA guaranteed 90% of any loan submitted to its officials by the bank and approved by such officials. The bank closed, disbursed and serviced such loans and had the responsibility of…
2Cases cited3 opinions
- Jack Mann Chevrolet Co. v. Associates Inv. Co.Court of Appeals for the Sixth Circuit · 1942
- Union Paving Co. v. United States ex rel. Soule Steel Co.Court of Appeals for the Ninth Circuit · 1945
- United States ex rel. Smith v. Maryland Casualty Co.Court of Appeals for the Fifth Circuit · 1944
3Cited by1 opinion
- The First Interstate Bank of Idaho v. The Small Business Administration and James C. Sanders, Administrator, Small Business AdministrationCourt of Appeals for the First Circuit · 1989