Okolona, Mississippi Bank Lends Money to Auto And Home Supply Stores Company in Okolona, Mississippi

Want to talk with an Okolona, Mississippi bank about an SBA loan? Here's one Mississippi business loan, issued by an Okolona bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of Okolona worked out well for our friends at one local company in Okolona, Mississippi. They received an SBA loan for $150,000. Nice!

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
OKOLONA, MS 38860

SBA Loan Lender

BANK OF OKOLONA
227 W MAIN ST
OKOLONA, MS 38860

This lender issued this particular SBA bank 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

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/4/2000

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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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