Financing for Shellfish Fishing

With these loans for shellfish fishing, the SBA guarantees the lender that the loan will be repaid. This shellfish fishing loan for $670,000 was given to a Mississippi entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Biloxi, Mississippi was able to borrow $670,000 from Beal Bank, D/b/a Beal Bank. The SBA made the loan possible by guaranteeing $502,500 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
BILOXI, MS 39531

SBA Loan Lender

BEAL BANK, D/B/A BEAL BANK
6000 LEGACY DR
PLANO, TX 75024

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0913 - Shellfish

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

1/5/2000

Loan Approval Gross Amount

$670,000

Loan Approval from the SBA

Of the total $670,000 loan amount, the SBA guaranteed $502,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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 $670,000 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.

Related Links:

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Getting an SBA Loan in Texas