Memphis, Tennessee Bank Lends Money to Medical Laboratories Company in Memphis, Tennessee

Want to talk 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 Insouth Bank worked out well for our friends at one local firm in Memphis, Tennessee. The business was able to get an SBA loan for $550,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: MEDICAL LABORATORIES
MEMPHIS, TN 38119

SBA Loan Lender

INSOUTH BANK
6141 WALNUT GROVE RD
MEMPHIS, TN 38120

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

1/30/2001

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 45 employees. The SBA loan application for the borrower indicated that the loan would help retain 45 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $550,000. How would you spend $550,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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