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May 3, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Gulfport, Business Loans > Hancock Bank Gulfport Business Loans > Eating Places Loan | ||||
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Small Business Banks in Mississippi
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Financing for Cafeterias, Grill Buffets, and BuffetsWith these commercial loans for cafeterias, grill buffets, and buffets, the SBA guarantees the lender that the loan will be repaid. This cafeterias, grill buffets, and buffets loan for $61,500 was given to a Mississippi entrepreneur in 2003. This small business knew how to go about getting a business bank loan. Based in Gulfport, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Hancock Bank, based in Gulfport, Mississippi. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender HANCOCK BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722212 - Cafeterias, Grill Buffets, and Buffets Loan Approval Date 11/26/2003 Loan Approval Gross Amount $61,500 Loan Approval from the SBA Of the total $61,500 loan amount, the SBA guaranteed $52,275. 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 6 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you 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. 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: Obtaining Funding From a Venture Capitalist Good Banks for Small Business in Gulfport, Mississippi
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