First Financial Bank SBA Loan to Broilers And Meat Type Company
First Financial Bank has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.
Getting a small business loan in Prentiss, Mississippi was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Financial Bank, operating out of El Dorado, Arkansas. Here are the details on this Mississippi small business loan.
SBA Loan Borrower
COMPANY TYPE: BROILERS AND MEAT TYPE
PRENTISS, MS 39474
SBA Loan Lender
FIRST FINANCIAL BANK
214 N WASHINGTON, STE 516
EL DORADO, AR 71730
This lender issued this bank loan under the SBA 7A lending program , 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
2/28/2001
Loan Approval Gross Amount
$66,700
Loan Approval from the SBA
Of the total $66,700 loan amount, the SBA guaranteed $56,695.
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 2 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.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $66,700 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Alternative Financing
Banks in El Dorado, Arkansas
SBA Arkansas Lenders