Memphis, Tennessee Bank Lends Money to Motor Vehicle Towing Company in Nashville, Tennessee

Get business loans from a Memphis, Tennessee bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Insouth Bank is a Memphis, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Tennessee company.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TOWING
NASHVILLE, TN 37207

SBA Loan Lender

INSOUTH BANK
6141 WALNUT GROVE RD
MEMPHIS, TN 38120

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488410 - Motor Vehicle Towing

Loan Approval Date

1/2/2002

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Nashville TN, you ought to talk with a local Nashville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Nashville businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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