Carthage, Mississippi Business Gets SBA-Guaranteed Funding from First Financial Bank

An SBA loan from First Financial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Carthage, Mississippi business owner got a $611,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carthage, Mississippi was able to borrow $611,000 from First Financial Bank. The SBA made the loan possible by guaranteeing $458,250 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
CARTHAGE, MS 39051

SBA Loan Lender

FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051

This 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

3/26/2001

Loan Approval Gross Amount

$611,000

Loan Approval from the SBA

Of the total $611,000 loan amount, the SBA guaranteed $458,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

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:

Small Business Loan

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Getting an SBA Loan in Mississippi