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November 15, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Insouth Bank Memphis Business Loans > Abbaco, LLC Loan | ||||
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Where to Get an SBA 7A Loan to Purchase a Franchise
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Clarksville, TN Entrepreneur Gets SBA Loan to Buy Servpro FranchiseNeed money to purchase a Servpro franchise? Insouth Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Clarksville, Tennessee needed money to invest in a Servpro franchise back in 2005. Insouth Bank issued an SBA franchise loan. Here are the details on this Tennessee small business loan. SBA Loan Borrower ABBACO, LLC SBA Loan Lender INSOUTH BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7349 - Building Cleaning and Maintenance Services, N.E.C NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 5/11/2005 Loan Approval Gross Amount $1,060,000 Loan Approval from the SBA Of the total $1,060,000 loan amount, the SBA guaranteed $795,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Dealing With Venture Capitalists SBA 7A Banks for Memphis, Tennessee Loans Getting an SBA Loan in Tennessee
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