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November 15, 2024 |
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| Home > Small Business Lenders by State > Mississippi Business Loan Sources > Laurel, Business Loans > Community Bank, Ellisville Laurel Business Loans > Broiler, Fryer, And Roaster Chickens Loan | ||||
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Mississippi SBA 7A Lenders
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Laurel, Mississippi Bank Gives SBA Loan to Broiler, Fryer, And Roaster Chickens CompanyGet to know Laurel, Mississippi banks that specialize in SBA loans and know how to work with entrepreneurs. Community Bank, Ellisville is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Bogue Chitto, Mississippi starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Community Bank, Ellisville. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS SBA Loan Lender COMMUNITY BANK, ELLISVILLE This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0251 - Broiler, Fryer, and Roaster Chickens NAICS Code 112320 - Broilers and Meat Type Loan Approval Date 9/27/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks in Laurel, Mississippi
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