Business Loan from Planters Bank & Trust Company Given to Retail Stores Company

Planters Bank & Trust Company has a track record as a leading provider of SBA loans. Find out how this Mississippi entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cleveland, Mississippi was able to borrow $150,000 from Planters Bank & Trust Company. The SBA made the loan possible by guaranteeing $127,500 of this Mississippi small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
CLEVELAND, MS 38732

SBA Loan Lender

PLANTERS BANK & TRUST COMPANY
118 N RUBY AVE
RULEVILLE, MS 38771

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

7/25/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Cleveland MS, you ought to talk with a local Cleveland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cleveland businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA Participating Banks in Ruleville, Mississippi

Mississippi SBA 7A Banks