Mississippi Bank Loan Issued to Water Well Drilling Contractors Company

Want a Mississippi SBA loan? This Mississippi entrepreneur got an SBA loan, provided by a Mississippi bank that works with the SBA to help small business owners.

Getting a small business loan in Cleveland, Mississippi was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Merchants & Farmers Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER WELL DRILLING CONTRACTORS
CLEVELAND, MS 38732

SBA Loan Lender

MERCHANTS & FARMERS BANK
308 E SUNFLOWER RD
CLEVELAND, MS 38732

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235810 - Water Well Drilling Contractors

Loan Approval Date

8/9/2001

Loan Approval Gross Amount

$339,000

Loan Approval from the SBA

Of the total $339,000 loan amount, the SBA guaranteed $254,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Merchants & Farmers Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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