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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 > Florists Loan | ||||
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Memphis SBA Lenders
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Memphis, Tennessee Bank Gives SBA Loan to Florists CompanyA Memphis, Tennessee SBA loan can be yours. Learn how one firm got a $150,000 business loan from this Tennessee bank. This loan to a local firm is a good example of an SBA loan. Insouth Bank made the loan and the SBA guaranteed a portion of the loan. Many other Tennessee entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender INSOUTH BANK This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and are well trained in SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 5/29/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Obtaining Funding - How to Decide How Much to Raise Find an SBA Lender in Memphis, Tennessee
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