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November 14, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > First Tennessee Bank Memphis Business Loans > Basic Inorganic Chemical Manufacturing Loan | ||||
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Banks in Memphis, Tennessee That Make SBA Loans
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Memphis, Tennessee Lender Lends Money to Basic Inorganic Chemical Manufacturing CompanyA Memphis, Tennessee business loan can be yours. Learn how one firm got a $200,000 business loan from this Tennessee bank. This loan to a local firm is a good example of an SBA loan. First Tennessee Bank made the loan and the SBA guaranteed a portion of the loan. Many other Tennessee entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BASIC INORGANIC CHEMICAL MANUFACTURING SBA Loan Lender FIRST TENNESSEE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 325188 - Basic Inorganic Chemical Manufacturing Loan Approval Date 8/11/2004 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $180,000. 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 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? 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: Best Memphis, Tennessee Banks for Small Business
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