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April 27, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Insouth Bank Memphis Business Loans > Groceries And Related Products Loan | ||||
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Memphis, Tennessee SBA Lenders
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Memphis, Tennessee Lender Lends Money to Groceries And Related Products CompanyA Memphis, Tennessee SBA loan can be yours. Learn how a company got a $122,400 business loan from this Tennessee bank. This loan to an entrepreneur is a good example of an SBA loan. Insouth Bank made the loan and the SBA guaranteed a portion of the loan. Many other Tennessee entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: GROCERIES AND RELATED PRODUCTS SBA Loan Lender INSOUTH BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5149 - Groceries and Related Products NAICS Code 422490 - Grocery and Related Products Wholesalers Loan Approval Date 10/6/2003 Loan Approval Gross Amount $122,400 Loan Approval from the SBA Of the total $122,400 loan amount, the SBA guaranteed $104,040. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Best Banks for Small Business in Memphis, Tennessee Getting an SBA Loan in Tennessee
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