Biloxi, Mississippi Lender Lends Money to Lumber And Other Building Materials Dealer Company

Thinking about meeting with a Biloxi, Mississippi bank about a business loan? Here's one Mississippi business loan, issued by a Biloxi bank, that was approved by the SBA.

Applying for an SBA loan with Community Bank, Coast worked out well for our friends at one local firm in Biloxi, Mississippi. The business was able to get an SBA loan for $60,000. Nice!

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
BILOXI, MS 39532

SBA Loan Lender

COMMUNITY BANK, COAST
677 DR MARTIN LUTHER KING JR
BILOXI, MS 39530

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. 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

5211 - Lumber and Other Building Materials Dealer

Loan Approval Date

5/25/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

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 2 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Bank, Coast and they will explain how you can get an SBA loan for your company.

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:

Business Line of Credit

SBA 7A Lenders in Biloxi, Mississippi

Getting an SBA Loan in Mississippi