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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 > Retail Bakeries Loan | ||||
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Small Business Banks for Memphis Small Business Owners
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Specialty Food Stores Business LoansLooking for business loans for specialty food stores? An SBA loan may be just what you've been looking for. This $275,000 specialty food stores loan was issued by a Tennessee bank. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Insouth Bank, out of Memphis, Tennessee. The loan was granted and they received $275,000 to help grow their Memphis, Tennessee business. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender INSOUTH BANK This SBA bank loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan 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 5461 - Retail Bakeries NAICS Code 445299 - Specialty Food Stores Loan Approval Date 9/20/2004 Loan Approval Gross Amount $275,000 Loan Approval from the SBA Of the total $275,000 loan amount, the SBA guaranteed $206,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 15 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels 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: SBA Participating Banks in Memphis, Tennessee SBA Participating Banks in Tennessee
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