Business Loans for Shellfish Farming

With these business loans for shellfish farming, the SBA guarantees the lender that the loan will be repaid. This shellfish farming loan for $339,000 was given to a Mississippi entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Moss Point, Mississippi was able to borrow $339,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $254,250 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH FARMING
MOSS POINT, MS 39563

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112512 - Shellfish Farming

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$339,000

Loan Approval from the SBA

Of the total $339,000 loan amount, the SBA guaranteed $254,250.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hancock Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Gulfport, Mississippi

SBA Lenders in Mississippi