Memphis, Tennessee Bank Lends Money to Computer Integrated Systems Design Company in Memphis, Tennessee

Thinking about meeting with a Memphis, Tennessee bank about a business loan? Here's one Tennessee business loan, issued by a Memphis bank, that was approved by the SBA.

Applying for an SBA loan with Regions Bank worked out well for our friends at one local business in Memphis, Tennessee. They received an SBA loan for $88,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: COMPUTER INTEGRATED SYSTEMS DESIGN
MEMPHIS, TN 38116

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

At the time this loan was granted, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to give fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7373 - Computer Integrated Systems Design

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

5/19/2000

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $70,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Equity Financing

SBA 7A Banks for Memphis, Tennessee Loans

Getting an SBA Loan in Tennessee