Financing for Lawyers
Looking for commercial loans for lawyers? The SBA may be the answer. This $150,000 lawyers loan was issued by a Mississippi bank.
This business knew how to go about getting a business bank loan. Based in Carthage, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Heritage Banking Group, based in Carthage, Mississippi.
SBA Loan Borrower
COMPANY TYPE: LEGAL SERVICES
CARTHAGE, MS 39051
SBA Loan Lender
HERITAGE BANKING GROUP
114 S PEARL ST
CARTHAGE, MS 39051
This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8111 - Legal Services
NAICS Code
541110 - Lawyers
Loan Approval Date
6/19/2002
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 6 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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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