Business Loan from First State Bank Given to Fertilizer Manufacturing Company

First State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Mississippi entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Waynesboro, Mississippi was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First State Bank, operating out of Waynesboro, Mississippi. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: FERTILIZER MANUFACTURING
WAYNESBORO, MS 39367

SBA Loan Lender

FIRST STATE BANK
708 AZALEA DR
WAYNESBORO, MS 39367

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325314 - Fertilizer Manufacturing

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$613,500

Loan Approval from the SBA

Of the total $613,500 loan amount, the SBA guaranteed $460,125.

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 130 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 First State 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.

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