Entrepreneur Works With Gulfport, Mississippi Bank to Get an SBA Loan
Find Gulfport, Mississippi banks that specialize in small business loans and know how to work with entrepreneurs. Hancock Bank is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Ocean Springs, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Hancock Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
OCEAN SPRINGS, MS 39553
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
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.
NAICS Code
624120 - Services for the Elderly and Persons with Disabilities
Loan Approval Date
3/14/2006
Loan Approval Gross Amount
$225,000
Loan Approval from the SBA
Of the total $225,000 loan amount, the SBA guaranteed $112,500.
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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 8 existing jobs.
Next Steps for Getting an SBA Loan
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.
This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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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SBA Approved Banks in Gulfport, Mississippi
Mississippi SBA 7A Lenders