Gulfport, Mississippi Bank Gives SBA Loan to Top And Body Repair And Paint Shops Company
Get SBA loans from a Gulfport, Mississippi bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
Hancock Bank is a Gulfport, Mississippi small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Mississippi company.
SBA Loan Borrower
COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
BILOXI, MS 34531
SBA Loan Lender
HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501
This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7532 - Top and Body Repair and Paint Shops
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
10/30/2001
Loan Approval Gross Amount
$147,600
Loan Approval from the SBA
Of the total $147,600 loan amount, the SBA guaranteed $125,460.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Hancock Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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