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April 28, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Trust One Bank Memphis Business Loans > Medical, Dental And Hospital Equipment Loan | ||||
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Trust One Bank Memphis, Tennessee
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Business Loan from Trust One Bank Given to Medical, Dental And Hospital Equipment CompanyAn SBA loan from Trust One Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Memphis, Tennessee business owner got a $125,000 loan. Getting a small business loan in Memphis, Tennessee was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Trust One Bank, operating out of Memphis, Tennessee. Here are the details on this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT SBA Loan Lender TRUST ONE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans 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 5047 - Medical, Dental and Hospital Equipment NAICS Code 621999 - Ambulatory Health Care Services Loan Approval Date 4/13/2005 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 15 employees. This SBA loan request did not indicate that the company promised 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 guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trust One Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan Best Banks in Memphis, Tennessee
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