Collins, Mississippi Business Gets SBA-Guaranteed Funding from Community Bank, Ellisville

Community Bank, Ellisville has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Community Bank, Ellisville, out of Laurel, Mississippi. The loan was granted and they received $1,125,000 to help grow their Collins, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
COLLINS, MS 39428

SBA Loan Lender

COMMUNITY BANK, ELLISVILLE
9TH ST & 16TH AVE
LAUREL, MS 39440

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

8/26/2005

Loan Approval Gross Amount

$1,125,000

Loan Approval from the SBA

Of the total $1,125,000 loan amount, the SBA guaranteed $843,750.

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 only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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