Seminary, Mississippi Entrepreneur Gets a Bank Loan
Would a Mississippi business loan help your company expand? If so, you may want to talk with this Mississippi bank, which offers SBA loans to Mississippi entrepreneurs.
Getting a small business loan in Seminary, Mississippi was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Financial Bank. Here are the details on this Mississippi small business loan.
SBA Loan Borrower
COMPANY TYPE: BROILERS AND MEAT TYPE
SEMINARY, MS 39479
SBA Loan Lender
FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
112320 - Broilers and Meat Type
Loan Approval Date
9/15/2005
Loan Approval Gross Amount
$720,000
Loan Approval from the SBA
Of the total $720,000 loan amount, the SBA guaranteed $540,000.
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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source
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 First Financial 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:
Accountant's Role in Securing Financing
SBA 7A Banks for Carthage, Mississippi Loans
SBA Mississippi Banks