Financing for Shellfish Fishing

With these commercial loans for shellfish fishing, the SBA guarantees the lender that the loan will be repaid. This shellfish fishing loan for $970,000 was given to a Mississippi entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Business Loan Center, LLC, out of Richmond, Virginia. The loan was granted and they received $970,000 to help grow their Biloxi, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
BILOXI, MS 39530

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

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

6/3/2002

Loan Approval Gross Amount

$970,000

Loan Approval from the SBA

Of the total $970,000 loan amount, the SBA guaranteed $727,500.

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 4 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $970,000. How would you spend $970,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Richmond, Virginia

SBA Lenders in Virginia