How to Get a Loan for Lawyers

Looking for SBA loans for lawyers? An SBA loan may be just what you've been looking for. This $50,000 lawyers loan was issued by a Tennessee bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Insouth Bank, out of Brownsville, Tennessee. The loan was granted and they received $50,000 to help grow their Memphis, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
Memphis, TN 38117

SBA Loan Lender

INSOUTH BANK
111 S WASHINGTON
BROWNSVILLE, TN 38012

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541110 - Lawyers

Loan Approval Date

9/6/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no employees. This SBA loan request indicated that the funding would help generate 2 new jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Insouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Insouth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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