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May 10, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Brandon, Business Loans > Trustmark National Bank Brandon Business Loans > Industrial Supplies Loan | ||||
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Trustmark National Bank SBA Loan
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Trustmark National Bank SBA Loan to Industrial Supplies CompanyTrustmark National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Mississippi entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Pearl, Mississippi was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Trustmark National Bank, operating out of Brandon, Mississippi. Here are the details on this Mississippi small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES SBA Loan Lender TRUSTMARK NATIONAL BANK This lender issued this particular commercial 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 5085 - Industrial Supplies NAICS Code 421840 - Industrial Supplies Wholesalers Loan Approval Date 12/3/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustmark National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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