Business Loan from Peoples Bank Given to Tobacco Stores Company

An SBA loan from Peoples Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Collins, Mississippi business owner got a $16,000 loan.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Peoples Bank, out of Mendenhall, Mississippi. The loan was granted and they received $16,000 to help grow their Collins, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: TOBACCO STORES
COLLINS, MS 39428

SBA Loan Lender

PEOPLES BANK
160 MAUD AVE
MENDENHALL, MS 39114

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

NAICS Code

453991 - Tobacco Stores

Loan Approval Date

7/10/2006

Loan Approval Gross Amount

$16,000

Loan Approval from the SBA

Of the total $16,000 loan amount, the SBA guaranteed $13,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $16,000 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:

Choosing VC Firms

Best Mendenhall, Mississippi Banks for Small Business

Where to Get an SBA Loan Mississippi