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May 18, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Magee, Business Loans > Peoples Bank Magee Business Loans > Broilers And Meat Type Loan | ||||
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Columbia, Mississippi Bank Loan
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Firm Gets a Mississippi Small Business LoanSmall business loans in Mississippi are tough to come by these days. We take a look at one Mississippi small business loan, provided by a Mississippi bank, that was approved by the SBA. By giving the right information to Peoples Bank, this Columbia, 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: BROILERS AND MEAT TYPE SBA Loan Lender PEOPLES BANK This bank 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 5/12/2005 Loan Approval Gross Amount $422,600 Loan Approval from the SBA Of the total $422,600 loan amount, the SBA guaranteed $316,950. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Find an SBA Lender in Magee, Mississippi
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