Borrowing Money for Data Processing, Hosting, and Related Services

With these bank loans for data processing, hosting, and related services, the SBA guarantees the lender that the loan will be repaid. This data processing, hosting, and related services loan for $20,000 was given to a Mississippi entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Biloxi, Mississippi was able to borrow $20,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $10,000 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES
BILOXI, MS 39532

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

The lender provided this SBA bank 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

518210 - Data Processing, Hosting, and Related Services

Loan Approval Date

2/19/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a 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 1 new job and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

We can help you find the best banks for small businesses in Biloxi or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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