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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Insouth Bank Memphis Business Loans > Cosmetics, Beauty Supplies, And Perfume Stores Loan | ||||
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Memphis, Tennessee Bank Loan
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Cosmetics, Beauty Supplies, and Perfume Stores Business LoansLooking for business loans for cosmetics, beauty supplies, and perfume stores? Try the SBA. This $75,000 cosmetics, beauty supplies, and perfume stores loan was issued by a Tennessee bank. This small business knew how to go about getting a business bank loan. Based in Memphis, 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: COSMETICS, BEAUTY SUPPLIES, AND PERFUME STORES SBA Loan Lender INSOUTH BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 1/22/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. 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 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business If you need money to start business in Memphis TN, you ought to talk with a local Memphis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Memphis 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: How Much Venture Capital Is There? Best Memphis, Tennessee Banks for Small Business
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