Brookhaven, Mississippi Entrepreneur Gets an SBA Loan

Business loans in Mississippi are tough to come by these days. We take a look at one Mississippi business loan, provided by a Mississippi bank, that was approved by the SBA.

By giving the right information to Trustmark National Bank, this Brookhaven, Mississippi business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
BROOKHAVEN, MS 39601

SBA Loan Lender

TRUSTMARK NATIONAL BANK
2425 HWY 80 EAST
PEARL, MS 39208

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

11/3/2006

Loan Approval Gross Amount

$1,210,000

Loan Approval from the SBA

Of the total $1,210,000 loan amount, the SBA guaranteed $907,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Trustmark National Bank and they will explain how you can get an SBA loan for your company.

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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