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December 21, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Memphis, Business Loans > Insouth Bank Memphis Business Loans > Poultry And Poultry Products Loan | ||||
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Insouth Bank Business Loan
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SBA Loan from Insouth Bank Helps Poultry And Poultry Products CompanyInsouth 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 business knew how to go about getting a business bank loan. Based in Memphis, Tennessee, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Insouth Bank, based in Memphis, Tennessee. SBA Loan Borrower COMPANY TYPE: POULTRY AND POULTRY PRODUCTS SBA Loan Lender INSOUTH BANK This bank loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5144 - Poultry and Poultry Products NAICS Code 424440 - Poultry and Poultry Product Merchant Wholesalers Loan Approval Date 8/20/2004 Loan Approval Gross Amount $293,000 Loan Approval from the SBA Of the total $293,000 loan amount, the SBA guaranteed $219,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $293,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Small Bank Loans in Memphis, Tennessee Browse All Business Loan Sources for Tennessee
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