Raising Money for Store Retailers

Looking for business loans for store retailers? An SBA loan may be just what you've been looking for. This $45,450 store retailers loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Covington, Tennessee was able to borrow $45,450 from Insouth Bank. The SBA made the loan possible by guaranteeing $38,633 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL AND ACCESSORY STORES
COVINGTON, TN 38019

SBA Loan Lender

INSOUTH BANK
6141 WALNUT GROVE RD
MEMPHIS, TN 38120

This SBA business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5699 - Apparel and Accessory Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

4/16/2002

Loan Approval Gross Amount

$45,450

Loan Approval from the SBA

Of the total $45,450 loan amount, the SBA guaranteed $38,633.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. 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 loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

We can help you find the best banks for small businesses in Covington or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Bank Credit Lines

Banks in Memphis, Tennessee

Tennessee SBA Banks