 |
 |
April 27, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Insouth Bank Memphis Business Loans > General Contractors-Industrial Buildings, Warehous Loan | ||||
 |
||||
What Does It Take to Get a Business Loan in Jackson, Tennessee?
|
||||
 |
Small Business Loans for Building Equipment and Machinery Installation ContractorsWith these small business loans for building equipment and machinery installation contractors, the SBA guarantees the lender that the loan will be repaid. This building equipment and machinery installation contractors loan for $750,000 was given to a Tennessee entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jackson, Tennessee was able to borrow $750,000 from Insouth Bank. The SBA made the loan possible by guaranteeing $562,500 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTORS-INDUSTRIAL BUILDINGS, WAREHOUS SBA Loan Lender INSOUTH BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1541 - General Contractors-Industrial Buildings, Warehous NAICS Code 235950 - Building Equipment and Machinery Installation Contractors Loan Approval Date 1/21/2005 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a business in Jackson TN, you ought to talk with a local Jackson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jackson businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Realistic Debt Financing Options Best Banks for Small Business in Memphis, Tennessee Getting an SBA Loan in Tennessee
|
|
||
|
||||
|
|
||||