Commercial Loans for Book Stores
Looking for commercial loans for book stores? Talk to a banker who works with the SBA. This $30,000 book stores loan was issued by a Mississippi bank.
This business knew how to go about getting a business bank loan. Based in Biloxi, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Hancock Bank, based in Gulfport, Mississippi.
SBA Loan Borrower
COMPANY TYPE: BOOK STORES
BILOXI, MS 39532
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5942 - Book Stores
NAICS Code
451211 - Book Stores
Loan Approval Date
2/2/2001
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $25,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
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 Hancock 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:
Family and Friend Investors - Your First Financiers
Small Business Banks in Gulfport, Mississippi
Mississippi SBA Banks