Hancock Bank Provides SBA Loan to Buy UPS Store Franchise

Need money to buy an UPS Store franchise? Hancock Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Baton Rouge, Louisiana needed money to invest in an UPS Store franchise back in 2007. Hancock Bank issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

SEAL UNLIMITED, LLC
BATON ROUGE, LA 70809

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

491110 - Postal Service

Loan Approval Date

10/4/2007

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Hancock Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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