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May 8, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Memphis, Business Loans > Regions Bank Memphis Business Loans > Motors And Generators Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Motor and Generator Manufacturing Commercial LoansLooking for commercial loans for motor and generator manufacturing? An SBA loan may be just what you've been looking for. This $150,000 motor and generator manufacturing loan was issued by a Tennessee bank. Getting a small business loan in Anderson, Indiana was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank, operating out of Memphis, Tennessee. Here are the details on this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: MOTORS AND GENERATORS SBA Loan Lender REGIONS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3621 - Motors and Generators NAICS Code 335312 - Motor and Generator Manufacturing Loan Approval Date 6/25/2001 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Obtaining Funding From a Venture Capitalist Who Lends Money to Small Businesses in Memphis, Tennessee
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