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May 9, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Brandon, Business Loans > Trustmark National Bank Brandon Business Loans > Meat And Fish Market Loan | ||||
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Trustmark National Bank Small Business Loans Madison
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SBA Loan from Trustmark National Bank Helps Meat And Fish Market CompanyAn SBA loan from Trustmark National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Madison, Mississippi business owner got a $102,200 loan. This growing company knew how to go about getting a business bank loan. Based in Madison, Mississippi, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Trustmark National Bank, based in Brandon, Mississippi. SBA Loan Borrower COMPANY TYPE: MEAT AND FISH MARKET SBA Loan Lender TRUSTMARK NATIONAL BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5421 - Meat and Fish Market NAICS Code 445220 - Fish and Seafood Markets Loan Approval Date 6/24/2002 Loan Approval Gross Amount $102,200 Loan Approval from the SBA Of the total $102,200 loan amount, the SBA guaranteed $86,870. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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