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May 17, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Jackson, Business Loans > Trustmark National Bank Jackson Business Loans > Beauty Shops Loan | ||||
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SBA Lender Jackson Mississippi
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Beauty Salons Business LoansWith these business loans for beauty salons, the SBA guarantees the lender that the loan will be repaid. This beauty salons loan for $5,100 was given to a Mississippi entrepreneur in 2000. This business knew how to go about getting a business bank loan. Based in Jackson, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Trustmark National Bank, based in Jackson, Mississippi. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender TRUSTMARK NATIONAL BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 8/7/2000 Loan Approval Gross Amount $5,100 Loan Approval from the SBA Of the total $5,100 loan amount, the SBA guaranteed $2,550. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustmark National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Jackson, Mississippi
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