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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 > Child Day Care Services Loan | ||||
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Memphis, Tennessee Bank for SBA Loans
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Memphis, Tennessee Lender Lends Money to Child Day Care Services CompanyThinking about meeting with a Memphis, Tennessee bank about an SBA loan? Here's one Tennessee business loan, issued by a Memphis bank, that was approved by the SBA. Applying for an SBA loan with Insouth Bank worked out well for our friends at one local company in Johnson City, Tennessee. They got an SBA loan for $290,000. Sweet! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender INSOUTH BANK When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 11/5/2002 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $217,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 47 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you want money for new small business in Johnson City TN, you ought to talk with a local Johnson City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Johnson City businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Insouth Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Approved Banks in Memphis, Tennessee
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