Loan to Buy Sears Catalog Store Franchise Issued By State Bank & Trust Company
Need money to buy a Sears Catalog Store franchise? State Bank & Trust Company has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Brookhaven, Mississippi needed money to invest in a Sears Catalog Store franchise back in 2006. State Bank & Trust Company issued an SBA franchise loan. Here are the details on this Mississippi small business loan.
SBA Loan Borrower
SEARS OF BROOKHAVEN
BROOKHAVEN, MS 39601
SBA Loan Lender
STATE BANK & TRUST COMPANY
916 HWY 82 BY-PASS
GREENWOOD, MS 38930
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
443111 - Household Appliance Stores
Loan Approval Date
5/12/2006
Loan Approval Gross Amount
$80,000
Loan Approval from the SBA
Of the total $80,000 loan amount, the SBA guaranteed $68,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Sears Catalog Store franchise. At the time of the loan, the company
had 11 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, 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.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Bank Credit Lines
SBA Approved Banks in Greenwood, Mississippi
SBA Lenders in Mississippi