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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Advertising Agencies Loan | ||||
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Memphis, Tennessee Bank for SBA Loans
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Growing Company Gets a Tennessee Small Business LoanBank loans in Tennessee are are few and far betweeen these days. We take a look at one Tennessee bank loan, provided by a Texas bank, that was approved by the SBA. By giving the right information to Small Business Loan Source LLC, this Memphis, Tennessee business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7311 - Advertising Agencies NAICS Code 541810 - Advertising Agencies Loan Approval Date 10/7/2002 Loan Approval Gross Amount $209,000 Loan Approval from the SBA Of the total $209,000 loan amount, the SBA guaranteed $156,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient 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? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: SBA Approved Banks in Houston, Texas
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