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April 19, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > Memphis, Business Loans > Insouth Bank Memphis Business Loans > Trucking Loan | ||||
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SBA Lender Tuscaloosa Alabama
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General Long-Distance Freight Trucking Bank LoansLooking for bank loans for general long-distance freight trucking? The SBA may be the answer. This $550,722 general long-distance freight trucking loan was issued by a Tennessee bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tuscaloosa, Alabama was able to borrow $550,722 from Insouth Bank. The SBA made the loan possible by guaranteeing $413,042 of this Alabama small business loan. SBA Loan Borrower COMPANY TYPE: TRUCKING SBA Loan Lender INSOUTH BANK This debt financing was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4213 - Trucking NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 6/5/2000 Loan Approval Gross Amount $550,722 Loan Approval from the SBA Of the total $550,722 loan amount, the SBA guaranteed $413,042. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 45 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Insouth Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Best Memphis, Tennessee Banks for Small Business Getting an SBA Loan in Tennessee
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