SBA Loan from Hancock Bank Of Mississippi Helps Industrial Launderers Company

An SBA loan from Hancock Bank Of Mississippi typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Baton Rouge, Louisiana business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Baton Rouge, Louisiana, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Hancock Bank Of Mississippi, based in Gulfport, Mississippi.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL LAUNDERERS
BATON ROUGE, LA 70814

SBA Loan Lender

HANCOCK BANK OF MISSISSIPPI
2510 14TH ST
GULFPORT, MS 39501

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7218 - Industrial Launderers

NAICS Code

812332 - Industrial Launderers

Loan Approval Date

3/21/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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:

Small Business Credit Cards

Small Business Banks in Gulfport, Mississippi

Getting a Business Loan in Mississippi