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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 > Fabricated Wire Products Loan | ||||
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Memphis, Tennessee Bank for SBA Loans
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Memphis, Tennessee Bank Lends Money to Fabricated Wire Products Company in Memphis, TennesseeGet to know Memphis, Tennessee banks that specialize in SBA loans and know how to work with entrepreneurs. Insouth Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Memphis, Tennessee starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Insouth Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: FABRICATED WIRE PRODUCTS SBA Loan Lender INSOUTH BANK This loan for a small business was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3496 - Fabricated Wire Products Loan Approval Date 7/10/2000 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $120,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 32 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Determining Proper Capital Structure for a Business Best Memphis, Tennessee Banks for Small Business
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