Business Loan from Peoples Bank Given to Broilers And Meat Type Company

Peoples Bank has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Peoples Bank, out of Magee, Mississippi. The loan was granted and they received $80,000 to help grow their Sumrall, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: BROILERS AND MEAT TYPE
SUMRALL, MS 39482

SBA Loan Lender

PEOPLES BANK
611 5TH AVE
MAGEE, MS 39111

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112320 - Broilers and Meat Type

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 2 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Line of Credit

Small Bank Loans in Magee, Mississippi

SBA Lenders in Mississippi