Financing for Limousine Service

With these loans for limousine service, the SBA guarantees the lender that the loan will be repaid. This limousine service loan for $184,000 was given to a Tennessee entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Banktennessee, out of Collierville, Tennessee. The loan was granted and they received $184,000 to help grow their Memphis, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: LOCAL PASSENGER TRANSPORTATION, N.E.C
MEMPHIS, TN 38126

SBA Loan Lender

BANKTENNESSEE
1125 WEST POPLAR AVE
COLLIERVILLE, TN 38017

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4119 - Local Passenger Transportation, N.E.C

NAICS Code

485320 - Limousine Service

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$184,000

Loan Approval from the SBA

Of the total $184,000 loan amount, the SBA guaranteed $138,000.

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 2 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banktennessee and they will explain how you can get an SBA loan for your company.

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 in Collierville, Tennessee

Where to Get an SBA Loan Tennessee