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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 > Medical Laboratories Loan | ||||
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Insouth Bank
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Memphis, Tennessee Business Gets SBA-Guaranteed Funding from Insouth BankAn SBA loan from Insouth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Memphis, Tennessee business owner got a $300,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $300,000 from Insouth Bank. The SBA made the loan possible by guaranteeing $225,000 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: MEDICAL LABORATORIES SBA Loan Lender INSOUTH BANK When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to provide expeditious 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 8071 - Medical Laboratories NAICS Code 621511 - Medical Laboratories Loan Approval Date 2/20/2001 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. 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 45 employees. This SBA loan request did not indicate that the 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? If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 7A Lenders in Memphis, Tennessee Where to Get an SBA Loan Tennessee
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