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May 3, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Jackson, Business Loans > Trustmark National Bank Jackson Business Loans > Timber Tract Operations Loan | ||||
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Small Business Banks for Magee Small Businesses
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Magee, Mississippi Entrepreneur Gets an SBA LoanSearching for a Mississippi business loan? This Mississippi entrepreneur got a business loan, provided by a Mississippi bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Magee, Mississippi by studying this loan to a local business, made back in 2003. Banks like Trustmark National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: TIMBER TRACT OPERATIONS SBA Loan Lender TRUSTMARK NATIONAL BANK This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 113110 - Timber Tract Operations Loan Approval Date 10/16/2003 Loan Approval Gross Amount $35,300 Loan Approval from the SBA Of the total $35,300 loan amount, the SBA guaranteed $17,650. 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 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustmark National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Banks for Jackson, Mississippi Loans
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