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May 3, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Brownsville, Business Loans > Insouth Bank Brownsville Business Loans > Car Washes Loan | ||||
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I Need an SBA Loan in Nashville, Tennessee
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Raising Money for Car WashesLooking for business loans for car washes? The SBA may be the answer. This $840,000 car washes loan was issued by a Tennessee bank. This business knew how to go about getting a business bank loan. Based in Nashville, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Insouth Bank, based in Brownsville, Tennessee. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender INSOUTH BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811192 - Car Washes Loan Approval Date 11/16/2005 Loan Approval Gross Amount $840,000 Loan Approval from the SBA Of the total $840,000 loan amount, the SBA guaranteed $630,000. 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 no employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks in Brownsville, Tennessee
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