Business Loan from State Bank & Trust Company Given to Trucking Company

State 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.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with State Bank & Trust Company, out of Greenwood, Mississippi. The loan was granted and they received $41,800 to help grow their Cruger, Mississippi business.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
CRUGER, MS 38924

SBA Loan Lender

STATE BANK & TRUST COMPANY
916 HWY 82 BY-PASS
GREENWOOD, MS 38930

When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program aims to offer expeditious 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

4213 - Trucking

Loan Approval Date

7/31/2000

Loan Approval Gross Amount

$41,800

Loan Approval from the SBA

Of the total $41,800 loan amount, the SBA guaranteed $33,440.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like State Bank & Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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