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May 14, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Greenwood, Business Loans > State Bank & Trust Company Greenwood Business Loans > Carwashes Loan | ||||
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Mississippi Small Business Funding
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Borrowing Money for Car WashesLooking for small business loans for car washes? Try the SBA. This $148,999 car washes loan was issued by a Mississippi bank. This small firm knew how to go about getting a business bank loan. Based in Ruleville, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was State Bank & Trust Company, based in Greenwood, Mississippi. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender STATE BANK & TRUST COMPANY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7542 - Carwashes NAICS Code 811192 - Car Washes Loan Approval Date 5/31/2002 Loan Approval Gross Amount $148,999 Loan Approval from the SBA Of the total $148,999 loan amount, the SBA guaranteed $126,649. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank & Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: SBA 7A Banks for Greenwood, Mississippi Loans
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