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May 18, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Jackson, Business Loans > Trustmark National Bank Jackson Business Loans > Carwashes Loan | ||||
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Brandon, Mississippi Bank for SBA Loans
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Trustmark National Bank Gives Small Business Loan to Carwashes CompanyMississippiSmall business loans are available to Mississippi small business owners through the SBA. In this case, a Mississippi bank provides the loan. By giving the right information to Trustmark National Bank, this Brandon, Mississippi business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender TRUSTMARK NATIONAL BANK This SBA bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending history and a deep knowledge SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7542 - Carwashes NAICS Code 811192 - Car Washes Loan Approval Date 3/21/2002 Loan Approval Gross Amount $306,000 Loan Approval from the SBA Of the total $306,000 loan amount, the SBA guaranteed $229,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 small business planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Getting an SBA Loan in Mississippi
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