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May 6, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > New Orleans, Business Loans > Whitney National Bank New Orleans Business Loans > Drugs And Druggists' Sundries Merchant Wholesalers Loan | ||||
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Business Loans for Gautier Businesses
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Bank Loans for Drugs and Druggists' Sundries Merchant WholesalersLooking for bank loans for drugs and druggists' sundries merchant wholesalers? An SBA loan may be just what you've been looking for. This $350,000 drugs and druggists' sundries merchant wholesalers loan was issued by a Louisiana bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gautier, Mississippi was able to borrow $350,000 from Whitney National Bank. The SBA made the loan possible by guaranteeing $315,000 of this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES MERCHANT WHOLESALERS SBA Loan Lender WHITNEY NATIONAL BANK This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424210 - Drugs and Druggists' Sundries Merchant Wholesalers Loan Approval Date 5/23/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $315,000. 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 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 13 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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. Related Links: Find an SBA Lender in New Orleans, Louisiana Where to Get an SBA Loan Louisiana
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