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May 17, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Carthage, Business Loans > First Financial Bank Carthage Business Loans > Broilers And Meat Type Loan | ||||
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Carthage Bank Loan
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Carthage, Mississippi Lender Lends Money to Broilers And Meat Type CompanyFind Carthage, Mississippi banks that specialize in SBA loans and know how to work with entrepreneurs. First Financial Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Wesson, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First Financial Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: BROILERS AND MEAT TYPE SBA Loan Lender FIRST FINANCIAL BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 112320 - Broilers and Meat Type Loan Approval Date 10/10/2007 Loan Approval Gross Amount $1,645,000 Loan Approval from the SBA Of the total $1,645,000 loan amount, the SBA guaranteed $1,233,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. 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 Financial 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 in Carthage, Mississippi
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