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May 11, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Indianola, Business Loans > Community Bank No. Mississippi Indianola Business Loans > Automotive Services Loan | ||||
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Indianola, Mississippi Bank for SBA Loans
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Indianola, Mississippi Lender Lends Money to Automotive Services CompanyAn Indianola, Mississippi business loan can be yours. Learn how one firm got a $143,600 business loan from this Mississippi bank. This loan to an entrepreneur is a good example of an SBA loan. Community Bank No. Mississippi made the loan and the SBA guaranteed a portion of the loan. Many other Mississippi entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender COMMUNITY BANK NO. MISSISSIPPI The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services Loan Approval Date 2/24/2000 Loan Approval Gross Amount $143,600 Loan Approval from the SBA Of the total $143,600 loan amount, the SBA guaranteed $107,700. More Information on This SBA Loan The borrower borrowed this money for a new 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 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in Indianola, Mississippi
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