First Financial Bank SBA Loan to Broiler, Fryer, And Roaster Chickens Company
First Financial 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.
Getting a small business loan in Chunky, Mississippi was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Financial Bank, operating out of Carthage, Mississippi. Here are the details on this Mississippi small business loan.
SBA Loan Borrower
COMPANY TYPE: BROILER, FRYER, AND ROASTER CHICKENS
CHUNKY, MS 39323
SBA Loan Lender
FIRST FINANCIAL BANK
206 N VAN BUREN
CARTHAGE, MS 39051
This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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
6/2/2006
Loan Approval Gross Amount
$473,000
Loan Approval from the SBA
Of the total $473,000 loan amount, the SBA guaranteed $354,750.
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 small business planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Financial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Debt Financing
SBA 7A Lenders in Carthage, Mississippi
Getting an SBA Loan in Mississippi