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May 13, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Drycleaning And Laundry Services Loan | ||||
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How to Get a Business Loan in Flowood, Mississippi
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Mississippi SBA Loan Issued to Drycleaning And Laundry Services CompanyBank loans in Mississippi are tough to come by these days. We take a look at one Mississippi bank loan, provided by a New York bank, that was approved by the SBA. Getting a small business loan in Flowood, Mississippi was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC. Here are the details on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 4/17/2002 Loan Approval Gross Amount $1,383,000 Loan Approval from the SBA Of the total $1,383,000 loan amount, the SBA guaranteed $999,992. 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 7 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $1,383,000. How would you spend $1,383,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: The Friends and Family Network Best New York, New York Banks for Small Business
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