Trustmark National Bank SBA Loan to Ice Manufacturing Company

Trustmark National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Mississippi entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Trustmark National Bank, out of Jackson, Mississippi. The loan was granted and they received $132,400 to help grow their Bogue Chitto, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: ICE MANUFACTURING
BOGUE CHITTO, MS 39629

SBA Loan Lender

TRUSTMARK NATIONAL BANK
248 E CAPITOL ST
JACKSON, MS 39201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312113 - Ice Manufacturing

Loan Approval Date

10/29/2007

Loan Approval Gross Amount

$132,400

Loan Approval from the SBA

Of the total $132,400 loan amount, the SBA guaranteed $112,540.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Trustmark National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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