Growing Company Gets a Mississippi Bank Loan

Bank loans in Mississippi are are few and far betweeen these days. We take a look at one Mississippi bank loan, provided by a Mississippi bank, that was approved by the SBA.

Getting a small business loan in D'Iberville (north Biloxi), Mississippi was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Hancock Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: PET AND PET SUPPLIES STORES
D'IBERVILLE (NORTH BILOXI), MS 39532

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

11/30/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hancock Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hancock Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Gulfport, Mississippi

Mississippi SBA Banks