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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 > Top And Body Repair And Paint Shops Loan | ||||
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We Needed an SBA 7A Loan in Memphis, Tennessee and We Got One!
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Automotive Body, Paint, and Interior Repair and Maintenance Business LoansLooking for business loans for automotive body, paint, and interior repair and maintenance? An SBA loan may be just what you've been looking for. This $150,000 automotive body, paint, and interior repair and maintenance loan was issued by a Tennessee bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $150,000 from Insouth Bank. The SBA made the loan possible by guaranteeing $127,500 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS SBA Loan Lender INSOUTH BANK This loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 9/4/2002 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Insouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Insouth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks for Small Business in Memphis, Tennessee
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