Corinth, Mississippi Entrepreneur Gets an SBA Loan
SBA loans in Mississippi are are few and far betweeen these days. We take a look at one Mississippi SBA loan, provided by a Texas bank, that was approved by the SBA.
By giving the right information to Comerica Bank, this Corinth, Mississippi business was able to get an SBA loan. To get this loan, the applying company 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: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
Corinth, MS 38834
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
11/26/2007
Loan Approval Gross Amount
$310,000
Loan Approval from the SBA
Of the total $310,000 loan amount, the SBA guaranteed $232,500.
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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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:
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SBA 7A Banks in Dallas, Texas
Where to Get an SBA Loan Texas