Entrepreneur Works With Biloxi, Mississippi Bank to Get an SBA Loan
Get SBA loans from a Biloxi, Mississippi bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
The Peoples Bank is a Biloxi, Mississippi small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Mississippi company.
SBA Loan Borrower
COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
LONG BEACH, MS 39560
SBA Loan Lender
THE PEOPLES BANK
152 LAMEUSE ST
BILOXI, MS 39530
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
424490 - Grocery and Related Products Merchant Wholesalers
Loan Approval Date
12/20/2006
Loan Approval Gross Amount
$47,000
Loan Approval from the SBA
Of the total $47,000 loan amount, the SBA guaranteed $23,500.
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 only one employee. The SBA loan documents indicated that the funding would help generate 1 new job.
Next Steps for Getting an SBA Loan
If you are raising money in Long Beach MS, you ought to talk with a local Long Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Beach businesses.
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 The Peoples 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.
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