Getting an SBA Loan for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $585,500 was given to a Mississippi entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Corinth, Mississippi, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Trustmark National Bank, based in Pearl, Mississippi.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CORINTH, MS 39348

SBA Loan Lender

TRUSTMARK NATIONAL BANK
2425 HWY 80 EAST
PEARL, MS 39208

When this loan was made, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/3/2006

Loan Approval Gross Amount

$585,500

Loan Approval from the SBA

Of the total $585,500 loan amount, the SBA guaranteed $439,125.

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 50 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $585,500 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:

Banking Deregulation's Effects on Entrepreneurship

SBA Banks in Pearl, Mississippi

SBA Mississippi Banks