Insouth Bank Gives Bank Loan to Automobile And Motor Vehicle Merchant Wholesalers Company

SBA loans in Tennessee are hard to find these days. We take a look at one Tennessee SBA loan, provided by a Tennessee bank, that was approved by the SBA.

Getting a small business loan in Moscow, Tennessee was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Insouth Bank. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE MERCHANT WHOLESALERS
Moscow, TN 38057

SBA Loan Lender

INSOUTH BANK
111 S WASHINGTON
BROWNSVILLE, TN 38012

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423110 - Automobile and Motor Vehicle Merchant Wholesalers

Loan Approval Date

12/11/2005

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $98,600.

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 no employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

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 $116,000 loan. Remember, anyone can do it... so why not you?

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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