 |
 |
December 23, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Trustmark National Bank Memphis Business Loans > Photographic Studios, Portrait Loan | ||||
 |
||||
Tennessee Bank SBA Loans
|
||||
 |
Trustmark National Bank SBA Loan to Photographic Studios, Portrait CompanyTrustmark National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Tennessee entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Trustmark National Bank, based in Memphis, Tennessee. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHIC STUDIOS, PORTRAIT SBA Loan Lender TRUSTMARK NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7221 - Photographic Studios, Portrait NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 1/24/2001 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, you control your own destiny. 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: Accountant's Role in Securing Financing Where to Get an SBA Loan in Memphis, Tennessee
|
|
||
|
||||
|
|
||||