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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 > Building Equipment Installation Loan | ||||
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Where to Get Capital for Special Trade ContractorsLooking for SBA loans for special trade contractors? An SBA loan may be just what you've been looking for. This $520,000 special trade contractors loan was issued by a Tennessee bank. This small business knew how to go about getting a business bank loan. Based in Jackson, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Insouth Bank, based in Memphis, Tennessee. SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT INSTALLATION SBA Loan Lender INSOUTH BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1796 - Building Equipment Installation NAICS Code 235990 - Special Trade Contractors Loan Approval Date 9/25/2001 Loan Approval Gross Amount $520,000 Loan Approval from the SBA Of the total $520,000 loan amount, the SBA guaranteed $390,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Insouth Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Memphis, Tennessee
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