Clinton, MS Entrepreneur Gets SBA Loan to Buy UPS Store Franchise

Borrowing money to purchase an UPS Store franchise? Merchants & Farmers Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Clinton, Mississippi and are interested in buying an UPS Store franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Merchants & Farmers Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HERRING VENTURES, LLC
CLINTON, MS 39056

SBA Loan Lender

MERCHANTS & FARMERS BANK
411 HWY 80
CLINTON, MS 39056

This SBA 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.

NAICS Code

561439 - Business Service Centers

Loan Approval Date

11/22/2005

Loan Approval Gross Amount

$192,700

Loan Approval from the SBA

Of the total $192,700 loan amount, the SBA guaranteed $144,525.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Friends and Family Network

Best Banks for Small Business in Clinton, Mississippi

SBA Lenders in Mississippi