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April 30, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Brentwood, Business Loans > Bancorpsouth Bank Brentwood Business Loans > Repair Shops And Related Services Loan | ||||
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Bancorpsouth Bank Nashville, Tennessee
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Business Loan from Bancorpsouth Bank Given to Repair Shops And Related Services CompanyAn SBA loan from Bancorpsouth Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Nashville, Tennessee business owner got a $150,000 loan. Getting a small business loan in Nashville, Tennessee was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bancorpsouth Bank, operating out of Brentwood, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender BANCORPSOUTH BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7699 - Repair Shops and Related Services NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 1/2/2003 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 7 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bancorpsouth Bank and they will explain how you can get an SBA loan for your company. 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: Who Lends Money to Small Businesses in Brentwood, Tennessee
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