Tennessee Business Loan Issued to Local Trucking Without Storage Company

Would a Tennessee business loan help your company expand? If so, you may want to talk with this Tennessee bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Memphis, Tennessee was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Renasant Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
MEMPHIS, TN 38117

SBA Loan Lender

RENASANT BANK
2177 GERMANTOWN RD SOUTH
GERMANTOWN, TN 38138

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4212 - Local Trucking Without Storage

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

5/21/2002

Loan Approval Gross Amount

$25,120

Loan Approval from the SBA

Of the total $25,120 loan amount, the SBA guaranteed $21,352.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Renasant Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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