Entrepreneur Works With Belzoni, Mississippi Bank to Get an SBA Loan

Get to know Belzoni, Mississippi banks that specialize in SBA loans and know how to work with entrepreneurs. Bankplus is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Meridian, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bankplus. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
MERIDIAN, MS 39305

SBA Loan Lender

BANKPLUS
202 JACKSON
BELZONI, MS 39038

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

11/28/2007

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Meridian MS, you ought to talk with a local Meridian SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Meridian businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bankplus so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

How to Raise Money

Best Banks in Belzoni, Mississippi

Where to Get an SBA Loan Mississippi