SBA Loan from Hancock Bank Helps Security Systems Services Company

Hancock Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Mississippi entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Biloxi, Mississippi was able to borrow $300,000 from Hancock Bank. The SBA made the loan possible by guaranteeing $150,000 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: SECURITY SYSTEMS SERVICES
BILOXI, MS 39530

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

561621 - Security Systems Services

Loan Approval Date

1/30/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 33 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Biloxi MS, you ought to talk with a local Biloxi SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Biloxi businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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