Business Loan from Trustmark National Bank Given to Full-Service Restaurants Company

Trustmark National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Mississippi entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Crystal Springs, Mississippi, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Trustmark National Bank, based in Jackson, Mississippi.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CRYSTAL SPRINGS, MS 39059

SBA Loan Lender

TRUSTMARK NATIONAL BANK
248 E CAPITOL ST
JACKSON, MS 39201

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

722110 - Full-Service Restaurants

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$24,600

Loan Approval from the SBA

Of the total $24,600 loan amount, the SBA guaranteed $20,910.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower indicated that the loan would help retain 17 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Crystal Springs MS, you ought to talk with a local Crystal Springs SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Crystal Springs businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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