Local Business Gets a Mississippi Bank Loan

Business loans in Mississippi are tough to come by these days. We take a look at one Mississippi business loan, provided by a Mississippi bank, that was approved by the SBA.

Getting a small business loan in Bay St. Louis, Mississippi was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Hancock Bank. Here are the details on this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BAY ST. LOUIS, MS 39525

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

2/17/2000

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 102 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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:

Getting a Small Business Loan

Banks in Gulfport, Mississippi

SBA Mississippi Banks