Biloxi, Mississippi Bank Lends Money to Wineries Company in Covington, Louisiana

Get to know Biloxi, Mississippi banks that specialize in SBA loans and know how to work with entrepreneurs. Hancock Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Covington, Louisiana starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Hancock Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WINERIES
COVINGTON, LA 70433

SBA Loan Lender

HANCOCK BANK
808 BEACH BLVD
BILOXI, MS 39530

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312130 - Wineries

Loan Approval Date

3/8/2005

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hancock Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hancock Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Financing Your Business

Where to Get an SBA Loan in Biloxi, Mississippi

Getting an SBA Loan in Mississippi