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May 14, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Greenwood, Business Loans > State Bank & Trust Company Greenwood Business Loans > Surveying And Mapping Services Loan | ||||
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Inverness Small Business Loans from State Bank & Trust Company
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Business Loan from State Bank & Trust Company Given to Surveying And Mapping Services CompanyAn SBA loan from State Bank & Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Inverness, Mississippi business owner got a $150,000 loan. This growing company knew how to go about getting a business bank loan. Based in Inverness, Mississippi, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was State Bank & Trust Company, based in Greenwood, Mississippi. SBA Loan Borrower COMPANY TYPE: SURVEYING AND MAPPING SERVICES SBA Loan Lender STATE BANK & TRUST COMPANY 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. NAICS Code 541370 - Surveying and Mapping Services Loan Approval Date 7/17/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Bank & Trust Company 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: Raising VC Money for Social Networking Companies SBA Banks in Greenwood, Mississippi
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