SBA Loan from Hancock Bank Helps Chiropractors Company
Hancock Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Louisiana entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Hancock Bank, out of Gulfport, Mississippi. The loan was granted and they received $150,000 to help grow their Baton Rouge, Louisiana business.
SBA Loan Borrower
COMPANY TYPE: CHIROPRACTORS
BATON ROUGE, LA 70808
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to American small businesses.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
621310 - Chiropractors
Loan Approval Date
12/15/2005
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. This loan was not for a franchise. At the time of the loan, the company
had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hancock Bank 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.
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